Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.77 Average PT from Brokerages

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have received an average rating of “Reduce” from the sixteen research firms that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $2.77.

A number of research analysts recently issued reports on BLDP shares. Susquehanna reduced their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. CIBC reduced their target price on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th. Hsbc Global Res downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th.

Ballard Power Systems Price Performance

BLDP stock opened at $1.52 on Friday. The stock has a market capitalization of $455.12 million, a price-to-earnings ratio of -1.38 and a beta of 1.67. The firm’s 50-day moving average price is $1.58 and its two-hundred day moving average price is $1.76. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12-month low of $1.23 and a 12-month high of $3.66.

Hedge Funds Weigh In On Ballard Power Systems

Several large investors have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Ballard Power Systems by 7.7% in the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock worth $343,000 after buying an additional 13,639 shares during the last quarter. First Commonwealth Financial Corp PA purchased a new stake in shares of Ballard Power Systems during the third quarter valued at approximately $27,000. XTX Topco Ltd grew its holdings in shares of Ballard Power Systems by 29.0% during the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock valued at $159,000 after buying an additional 19,856 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.