Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.78

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has received an average recommendation of "Reduce" from the fifteen analysts that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $2.78.

A number of research analysts have issued reports on the stock. TD Securities downgraded shares of Ballard Power Systems from a "hold" rating to a "sell" rating and reduced their price objective for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Raymond James lowered their price target on Ballard Power Systems from $4.00 to $3.00 and set a "market perform" rating for the company in a research report on Wednesday, August 14th. CIBC cut their price objective on shares of Ballard Power Systems from $1.60 to $1.40 and set an "underperformer" rating on the stock in a research report on Wednesday, November 6th. Jefferies Financial Group decreased their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a "hold" rating for the company in a report on Tuesday, August 13th. Finally, StockNews.com upgraded shares of Ballard Power Systems to a "sell" rating in a report on Friday, November 1st.

Ballard Power Systems Trading Up 1.4 %

BLDP traded up $0.02 during trading on Friday, hitting $1.49. 4,014,633 shares of the stock traded hands, compared to its average volume of 4,251,707. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The firm has a 50-day moving average of $1.55 and a 200 day moving average of $2.04. The firm has a market capitalization of $446.14 million, a P/E ratio of -1.35 and a beta of 1.78. Ballard Power Systems has a 12-month low of $1.23 and a 12-month high of $4.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company's stock worth $5,224,000 after buying an additional 186,833 shares in the last quarter. Jane Street Group LLC lifted its stake in Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company's stock worth $2,008,000 after purchasing an additional 646,219 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Ballard Power Systems by 52.6% during the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company's stock valued at $1,727,000 after purchasing an additional 330,815 shares during the last quarter. TD Asset Management Inc grew its position in shares of Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company's stock valued at $1,599,000 after purchasing an additional 8,154 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Ballard Power Systems by 79.7% in the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company's stock worth $786,000 after purchasing an additional 193,658 shares during the last quarter. 28.02% of the stock is currently 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.