Ballard Power Systems (NASDAQ:BLDP) Given New $2.00 Price Target at National Bankshares

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target decreased by National Bankshares from $2.60 to $2.00 in a report published on Friday,BayStreet.CA reports. National Bankshares currently has a sector perform rating on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. HSBC decreased their price target on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research note on Friday. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. BMO Capital Markets reduced their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research note on Friday. Roth Mkm reduced their price objective on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a research note on Friday. Finally, Raymond James reduced their price objective on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a research note on Friday. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems currently has an average rating of “Hold” and a consensus price target of $2.31.

Ballard Power Systems Trading Up 3.1 %

Shares of BLDP stock opened at $1.32 on Friday. The company has a 50 day moving average of $1.43 and a 200-day moving average of $1.55. The company has a quick ratio of 8.19, a current ratio of 9.01 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. The firm has a market cap of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. Portolan Capital Management LLC bought a new stake in shares of Ballard Power Systems during the 4th quarter worth $2,508,000. Millennium Management LLC lifted its holdings in shares of Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after acquiring an additional 1,177,718 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Ballard Power Systems by 58.4% during the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after acquiring an additional 661,413 shares during the last quarter. Jane Street Group LLC lifted its holdings 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 acquiring an additional 646,219 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares during 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.