Ballard Power Systems (NASDAQ:BLDP) Trading Up 3.7% – Here’s What Happened

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) traded up 3.7% on Monday . The company traded as high as $1.70 and last traded at $1.68. 1,318,174 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,269,669 shares. The stock had previously closed at $1.62.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BLDP shares. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Hsbc Global Res cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, Susquehanna decreased their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Stock Up 0.6 %

The firm has a market cap of $509.02 million, a price-to-earnings ratio of -1.55 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The firm has a 50-day moving average price of $1.52 and a two-hundred day moving average price of $1.87.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Commonwealth Financial Corp PA acquired a new stake in shares of Ballard Power Systems in the 3rd quarter valued at about $27,000. Toronto Dominion Bank grew its holdings 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 worth $50,000 after buying an additional 20,949 shares during the last quarter. Scientech Research LLC acquired a new position in Ballard Power Systems in the 2nd quarter valued at about $52,000. Daiwa Securities Group Inc. lifted its position in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares during the period. Finally, MQS Management LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter valued at approximately $79,000. 28.02% of the stock is owned by hedge funds and other 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.