Roth Mkm Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $1.25

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target cut by investment analysts at Roth Mkm from $1.75 to $1.25 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Roth Mkm’s price target points to a potential downside of 2.72% from the company’s current price.

Several other equities analysts also recently weighed in on BLDP. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. BMO Capital Markets lowered their price target on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research report on Friday. Finally, 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 given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.65.

Ballard Power Systems Trading Up 0.4 %

BLDP stock traded up $0.01 during midday trading on Friday, hitting $1.29. The stock had a trading volume of 4,578,408 shares, compared to its average volume of 10,236,753. Ballard Power Systems has a 12-month low of $1.08 and a 12-month high of $3.38. The firm has a market cap of $384.78 million, a PE ratio of -1.17 and a beta of 1.75. The company’s 50-day moving average price is $1.44 and its 200 day moving average price is $1.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. National Bank of Canada FI boosted its stake in Ballard Power Systems by 14.7% during the fourth quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock valued at $120,000 after buying an additional 9,287 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of 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 boosted its holdings in Ballard Power Systems by 7.7% during 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 in the last quarter. First Commonwealth Financial Corp PA acquired a new position in Ballard Power Systems in the third quarter worth approximately $27,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Ballard Power Systems by 44.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock valued at $82,000 after buying an additional 15,160 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

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.