Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Rating of "Reduce" by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has earned a consensus recommendation of "Reduce" from the sixteen analysts that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $2.77.

A number of brokerages have commented on BLDP. TD Cowen raised shares of Ballard Power Systems to a "strong sell" rating in a report on Monday, January 13th. CIBC decreased their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating on the stock in a report on Wednesday, December 4th.

Ballard Power Systems Stock Up 4.1 %

Shares of NASDAQ:BLDP opened at $1.26 on Monday. Ballard Power Systems has a 12 month low of $1.08 and a 12 month high of $3.38. The company's 50-day moving average price is $1.48 and its two-hundred day moving average price is $1.57. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The firm has a market cap of $377.29 million, a P/E ratio of -1.15 and a beta of 1.75.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently modified their holdings of the company. Toronto Dominion Bank raised its position in shares of Ballard Power Systems by 181.5% in the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company's stock valued at $131,000 after acquiring an additional 50,695 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $150,000. Two Sigma Advisers LP raised its position in shares of Ballard Power Systems by 104.6% in the 4th quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company's stock valued at $1,619,000 after acquiring an additional 498,600 shares during the period. Two Sigma Investments LP raised its position in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after acquiring an additional 661,413 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Ballard Power Systems by 51.3% in the 4th quarter. Tidal Investments LLC now owns 400,533 shares of the technology company's stock valued at $665,000 after acquiring an additional 135,752 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.

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