Ballard Power Systems (NASDAQ:BLDP) Receives "Sell" Rating from Citigroup

Citigroup reiterated their sell rating on shares of Ballard Power Systems (NASDAQ:BLDP - Free Report) TSE: BLD in a report issued on Thursday morning, MarketBeat.com reports. They currently have a $1.00 price target on the technology company's stock, down from their previous price target of $1.50.

Other analysts have also recently issued reports about the stock. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a report on Thursday, March 13th. UBS Group set a $1.25 price objective on Ballard Power Systems in a report on Friday, March 14th. BMO Capital Markets lowered their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a research report on Friday, March 14th. Raymond James decreased their price objective on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating for the company in a research report on Friday, March 14th. Finally, National Bankshares cut their target price on shares of Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating for the company in a research report on Friday, March 14th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Ballard Power Systems currently has an average rating of "Hold" and a consensus price target of $2.08.

Ballard Power Systems Stock Performance

BLDP stock traded up $0.04 during trading on Thursday, reaching $1.13. 3,014,044 shares of the company's stock were exchanged, compared to its average volume of 5,428,924. The firm has a market cap of $336.87 million, a PE ratio of -1.02 and a beta of 1.84. 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 1-year low of $1.00 and a 1-year high of $3.34. The company's fifty day moving average price is $1.24 and its 200-day moving average price is $1.44.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Ballard Power Systems in the fourth quarter worth $27,000. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems during the fourth quarter worth approximately $52,000. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of 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 purchasing an additional 10,767 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Ballard Power Systems by 44.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after purchasing an additional 15,160 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in Ballard Power Systems in the 4th quarter valued at $101,000. 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.