HSBC Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price target cut by analysts at HSBC from $1.90 to $1.40 in a note issued to investors on Friday,BayStreet.CA reports. The brokerage presently has a "hold" rating on the technology company's stock. HSBC's price target points to a potential upside of 4.48% from the company's previous close.

A number of other research firms have also recently commented on BLDP. TD Cowen upgraded Ballard Power Systems to a "strong sell" rating in a research report on Monday, January 13th. Roth Mkm dropped their target price on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating on the stock in a research report on Friday. CIBC dropped their target price on Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating on the stock in a research report on Wednesday, December 4th. BMO Capital Markets dropped their target price on Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a research report on Friday. Finally, Raymond James decreased 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 note on Friday. Six analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.13.

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Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP traded down $0.01 during trading on Friday, reaching $1.34. 6,513,358 shares of the company's stock traded hands, compared to its average volume of 4,861,975. Ballard Power Systems has a fifty-two week low of $1.08 and a fifty-two week high of $3.38. 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 $401.25 million, a PE ratio of -1.22 and a beta of 1.75. The company has a 50-day simple moving average of $1.41 and a 200-day simple moving average of $1.54.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. 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. Geode Capital Management LLC lifted its stake in Ballard Power Systems by 51.0% in the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company's stock worth $779,000 after purchasing an additional 146,104 shares in the last quarter. Van ECK Associates Corp lifted its stake in Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock worth $4,094,000 after purchasing an additional 644,861 shares in the last quarter. XTX Topco Ltd lifted its stake in Ballard Power Systems by 29.0% in the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company's stock worth $159,000 after purchasing an additional 19,856 shares in the last quarter. Finally, Tidal Investments LLC increased its holdings in shares of Ballard Power Systems by 17.1% during the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company's stock worth $477,000 after buying an additional 38,616 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other 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.