Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.77 Average PT from Analysts

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have received an average recommendation of "Reduce" from the sixteen ratings firms that are covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $2.77.

A number of equities analysts have commented on the stock. CIBC reduced 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 report on Wednesday, December 4th. StockNews.com raised shares of Ballard Power Systems to a "sell" rating in a report on Friday, November 1st. TD Cowen upgraded shares of Ballard Power Systems to a "strong sell" rating in a research note on Monday, January 13th. HSBC downgraded shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Finally, Susquehanna decreased their target price on Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th.

Ballard Power Systems Stock Performance

Shares of BLDP stock traded down $0.12 on Friday, reaching $1.40. The stock had a trading volume of 7,187,586 shares, compared to its average volume of 10,444,322. Ballard Power Systems has a 12 month low of $1.23 and a 12 month high of $3.66. The firm has a market capitalization of $419.19 million, a price-to-earnings ratio of -1.27 and a beta of 1.67. The firm's 50-day moving average is $1.58 and its two-hundred day moving average is $1.76. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Institutional Trading of Ballard Power Systems

Several large investors have recently made changes to their positions in BLDP. First Commonwealth Financial Corp PA bought a new position in shares of Ballard Power Systems in the third quarter worth about $27,000. Toronto Dominion Bank increased its position in Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company's stock worth $50,000 after purchasing an additional 20,949 shares in the last quarter. Scientech Research LLC bought a new position in Ballard Power Systems in the 2nd quarter valued at approximately $52,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock valued at $68,000 after buying an additional 10,767 shares in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Ballard Power Systems during the second quarter worth $79,000. Institutional investors and hedge funds 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.