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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus rating of “Reduce” from the sixteen analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $2.31.

Several research analysts recently issued reports on the stock. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. HSBC reduced their price target on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research report on Friday. National Bankshares reduced their price target on shares of Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating on the stock in a research report on Friday. Raymond James reduced their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating on the stock in a research report 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 report on Friday.

Ballard Power Systems Stock Up 3.1 %

Shares of NASDAQ:BLDP opened at $1.32 on Monday. Ballard Power Systems has a 52 week low of $1.08 and a 52 week high of $3.38. 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 company’s fifty day moving average is $1.43 and its 200-day moving average is $1.55. The company has a market capitalization of $395.26 million, a PE ratio of -1.20 and a beta of 1.75.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. Banque Cantonale Vaudoise increased its stake in shares of Ballard Power Systems by 7.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after acquiring an additional 13,639 shares during the last quarter. Penserra Capital Management LLC increased its stake in shares of Ballard Power Systems by 52.6% in the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after acquiring an additional 330,815 shares during the last quarter. DRW Securities LLC increased its stake in shares of Ballard Power Systems by 2,097.1% in the 3rd quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock valued at $600,000 after acquiring an additional 318,151 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Ballard Power Systems by 79.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock valued at $786,000 after acquiring an additional 193,658 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Ballard Power Systems by 8.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 344,589 shares of the technology company’s stock valued at $620,000 after acquiring an additional 27,787 shares during the last quarter. 28.02% of the stock is owned by institutional investors.

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.