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

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been given an average recommendation of "Reduce" by the sixteen research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $2.13.

Several research firms have weighed in on BLDP. HSBC cut their price target on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a report on Friday, March 14th. 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 report on Friday, March 14th. Raymond James reduced their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a research report on Friday, March 14th. UBS Group set a $1.25 price objective on shares of Ballard Power Systems in a research report on Friday, March 14th. Finally, Citigroup reduced their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating on the stock in a report on Tuesday, March 18th.

Ballard Power Systems Price Performance

Shares of BLDP traded down $0.08 during midday trading on Friday, hitting $1.02. 15,328,887 shares of the company traded hands, compared to its average volume of 5,228,643. The stock has a market cap of $305.43 million, a price-to-earnings ratio of -0.93 and a beta of 1.84. The firm has a 50 day moving average of $1.29 and a 200-day moving average of $1.48. 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 52 week low of $1.01 and a 52 week high of $3.38.

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Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently modified their holdings of BLDP. Raymond James Financial Inc. bought a new position in Ballard Power Systems in the 4th quarter valued at $27,000. Toronto Dominion Bank grew its holdings in shares of Ballard Power Systems by 300.0% in the third 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 during the last quarter. Headlands Technologies LLC purchased a new position in Ballard Power Systems in the 4th quarter worth about $52,000. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Ballard Power Systems by 35.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock valued at $68,000 after buying an additional 10,767 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in Ballard Power Systems by 44.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock valued at $82,000 after buying an additional 15,160 shares during the period. 28.02% of the stock is owned by institutional investors.

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.