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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned a consensus recommendation of "Reduce" from the sixteen analysts that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $2.77.

BLDP has been the subject of a number of analyst reports. CIBC reduced their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating for the company in a research note on Wednesday, December 4th. HSBC downgraded shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. StockNews.com raised shares of Ballard Power Systems to a "sell" rating in a research note on Friday, November 1st. Hsbc Global Res lowered shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Finally, TD Cowen raised Ballard Power Systems to a "strong sell" rating in a research note on Monday, January 13th.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in Ballard Power Systems during the 4th quarter worth approximately $150,000. Two Sigma Advisers LP boosted its position in shares of Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company's stock worth $1,619,000 after buying an additional 498,600 shares during the period. Two Sigma Investments LP grew its holdings in shares of Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after buying an additional 661,413 shares in the last quarter. Tidal Investments LLC raised its position in Ballard Power Systems by 51.3% during the fourth quarter. Tidal Investments LLC now owns 400,533 shares of the technology company's stock valued at $665,000 after buying an additional 135,752 shares during the period. Finally, State of Wyoming lifted its stake in Ballard Power Systems by 457.8% in the 4th quarter. State of Wyoming now owns 162,573 shares of the technology company's stock worth $270,000 after acquiring an additional 133,430 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Performance

Shares of BLDP traded down $0.03 during midday trading on Thursday, hitting $1.47. 4,849,164 shares of the stock traded hands, compared to its average volume of 10,325,600. The business's 50 day moving average price is $1.57 and its two-hundred day moving average price is $1.63. The firm has a market capitalization of $440.78 million, a PE ratio of -1.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.38.

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.