Ballard Power Systems (NASDAQ:BLDP - Free Report) TSE: BLD had its target price lowered by BMO Capital Markets from $1.30 to $1.20 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an underperform rating on the technology company's stock.
BLDP has been the subject of several other reports. CIBC reduced 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. TD Cowen raised Ballard Power Systems to a "strong sell" rating in a report on Monday, January 13th. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ballard Power Systems currently has a consensus rating of "Hold" and an average price target of $2.13.
Get Our Latest Research Report on BLDP
Ballard Power Systems Stock Performance
Shares of BLDP traded down $0.01 on Friday, reaching $1.34. 6,513,358 shares of the company's stock traded hands, compared to its average volume of 4,861,990. 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 stock has a market cap of $401.25 million, a PE ratio of -1.22 and a beta of 1.75. The stock's 50 day simple moving average is $1.41 and its two-hundred day simple moving average is $1.54. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC grew its holdings in shares of Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company's stock worth $2,008,000 after acquiring an additional 646,219 shares during the period. Geode Capital Management LLC grew its holdings in shares of Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company's stock worth $779,000 after acquiring an additional 146,104 shares during the period. Van ECK Associates Corp grew its holdings in shares of Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock worth $4,094,000 after acquiring an additional 644,861 shares during the period. XTX Topco Ltd grew its holdings in shares of Ballard Power Systems by 29.0% during the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company's stock worth $159,000 after acquiring an additional 19,856 shares during the period. Finally, Tidal Investments LLC grew 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 acquiring an additional 38,616 shares during the period. Hedge funds and other institutional investors own 28.02% of the company's stock.
About Ballard Power Systems
(
Get Free Report)
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.
See Also
Before you consider Ballard Power Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ballard Power Systems wasn't on the list.
While Ballard Power Systems currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
