Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.77 Consensus Price Target from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given a consensus recommendation of “Reduce” by the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $2.77.

Several equities analysts have commented on the company. Hsbc Global Res downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. CIBC lowered their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. Finally, TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th.

Ballard Power Systems Trading Down 2.0 %

Shares of NASDAQ BLDP opened at $1.47 on Thursday. The business’s 50-day simple moving average is $1.56 and its 200-day simple moving average is $1.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. Ballard Power Systems has a 52 week low of $1.23 and a 52 week high of $3.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. First Commonwealth Financial Corp PA acquired a new stake in Ballard Power Systems during the third quarter worth $27,000. Raymond James Financial Inc. acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $27,000. Toronto Dominion Bank increased its stake in Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares during the period. Headlands Technologies LLC acquired a new position in Ballard Power Systems in the fourth quarter worth about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Ballard Power Systems by 35.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares during the period. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.