Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.77

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

Several research firms have issued reports on BLDP. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Susquehanna dropped their target price 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. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st.

Ballard Power Systems Stock Down 0.6 %

NASDAQ:BLDP opened at $1.69 on Wednesday. The company’s 50-day simple moving average is $1.52 and its 200-day simple moving average is $1.84. 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 fifty-two week low of $1.23 and a fifty-two week high of $3.83. The stock has a market capitalization of $506.02 million, a P/E ratio of -1.54 and a beta of 1.72.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after buying an additional 186,833 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 646,219 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Ballard Power Systems by 52.6% during the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after purchasing an additional 330,815 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock worth $786,000 after buying an additional 193,658 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.