BMO Capital Markets Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price trimmed by BMO Capital Markets from $1.30 to $1.20 in a research report released on Friday morning,Benzinga reports. The firm currently has an underperform rating on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. CIBC reduced their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and a consensus target price of $2.31.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $1.32 on Friday. The firm’s 50 day moving average price is $1.43 and its 200-day moving average price is $1.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a one year low of $1.08 and a one year high of $3.38. The firm has a market cap of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently modified their holdings of BLDP. Portolan Capital Management LLC purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $2,508,000. Millennium Management LLC grew its position in shares of Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after buying an additional 1,177,718 shares during the last quarter. Two Sigma Investments LP grew its position in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after buying an additional 661,413 shares during the last quarter. Jane Street Group LLC grew its position in shares of Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after buying an additional 646,219 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after buying an additional 644,861 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.