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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned an average rating of "Reduce" from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Six research 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 1 year price target among analysts that have covered the stock in the last year is $2.77.

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

Ballard Power Systems Trading Down 1.3 %

NASDAQ BLDP traded down $0.02 on Thursday, hitting $1.47. The company's stock had a trading volume of 8,477,482 shares, compared to its average volume of 9,204,465. Ballard Power Systems has a 52-week low of $1.23 and a 52-week high of $3.38. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The company's 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.63. The firm has a market cap of $440.18 million, a P/E ratio of -1.34 and a beta of 1.69.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. First Commonwealth Financial Corp PA bought a new stake in shares of Ballard Power Systems in the 3rd quarter worth $27,000. Raymond James Financial Inc. bought a new stake in shares of Ballard Power Systems in the 4th quarter worth $27,000. Toronto Dominion Bank increased its holdings in shares of Ballard Power Systems by 300.0% in 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. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter worth $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock worth $68,000 after purchasing an additional 10,767 shares in the last quarter. Institutional investors 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.