Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $1.40 by Analysts at HSBC

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price decreased by HSBC from $1.90 to $1.40 in a research note issued to investors on Friday morning,BayStreet.CA reports. HSBC currently has a hold rating on the technology company’s stock.

Several other equities research analysts have also issued reports on BLDP. CIBC lowered their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. Raymond James lowered their target price on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. BMO Capital Markets reduced their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research note on Friday. Finally, Roth Mkm reduced their price target on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Friday. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Price Performance

Ballard Power Systems stock opened at $1.32 on Friday. The firm has a 50-day moving average price of $1.43 and a 200-day moving average price of $1.55. The firm has a market capitalization of $395.26 million, a PE ratio of -1.20 and a beta of 1.75. 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 $1.08 and a 12-month high of $3.38.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its position in 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 valued at $2,008,000 after purchasing an additional 646,219 shares during the period. Geode Capital Management LLC increased its position in Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after purchasing an additional 146,104 shares during the period. 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 worth $4,094,000 after buying an additional 644,861 shares during the last quarter. XTX Topco Ltd grew its position in shares of Ballard Power Systems by 29.0% in the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after buying an additional 19,856 shares during the last quarter. Finally, Tidal Investments LLC grew its position in shares of Ballard Power Systems by 17.1% in the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock worth $477,000 after buying an additional 38,616 shares during 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.