Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.77 Consensus Price Target from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average rating of “Reduce” by the sixteen brokerages that are covering the firm, MarketBeat reports. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $2.77.

A number of analysts recently weighed in on BLDP shares. CIBC reduced their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Hsbc Global Res cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Toronto Dominion Bank raised its stake in shares of Ballard Power Systems by 181.5% during the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company’s stock worth $131,000 after purchasing an additional 50,695 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Ballard Power Systems in the fourth quarter worth approximately $150,000. Two Sigma Advisers LP raised its position in Ballard Power Systems by 104.6% during the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock valued at $1,619,000 after acquiring an additional 498,600 shares in the last quarter. Two Sigma Investments LP lifted its stake in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after acquiring an additional 661,413 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Ballard Power Systems by 51.3% in the fourth quarter. Tidal Investments LLC now owns 400,533 shares of the technology company’s stock worth $665,000 after acquiring an additional 135,752 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.47 on Thursday. The firm has a 50-day moving average of $1.56 and a two-hundred day moving average of $1.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. Ballard Power Systems has a twelve month low of $1.23 and a twelve month high of $3.38.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.