Ballard Power Systems (NASDAQ:BLDP) Price Target Lowered to $1.20 at BMO Capital Markets

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by BMO Capital Markets from $1.30 to $1.20 in a research report released on Friday morning,Benzinga reports. BMO Capital Markets currently has an underperform rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. CIBC dropped their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. Six equities research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.31.

Ballard Power Systems Stock Performance

BLDP opened at $1.32 on Friday. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The company has a market cap of $395.26 million, a price-to-earnings ratio of -1.20 and a beta of 1.75. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38. The firm’s fifty day simple moving average is $1.43 and its two-hundred day simple moving average is $1.55.

Institutional Trading of Ballard Power Systems

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its stake in shares of Ballard Power Systems by 137.6% in 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 buying an additional 646,219 shares during the period. Geode Capital Management LLC grew its stake in shares of Ballard Power Systems by 51.0% in the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after buying an additional 146,104 shares during the period. Van ECK Associates Corp grew its stake 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 valued at $4,094,000 after buying an additional 644,861 shares during the period. XTX Topco Ltd lifted its holdings 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 acquiring an additional 19,856 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings 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 acquiring an additional 38,616 shares during 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.