Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD was up 10.2% during trading on Thursday . The stock traded as high as $1.83 and last traded at $1.83. Approximately 2,510,449 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 3,402,973 shares. The stock had previously closed at $1.66.
Analysts Set New Price Targets
A number of analysts have recently issued reports on BLDP shares. Hsbc Global Res downgraded shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. Citigroup lowered their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. CIBC reduced their price objective 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. Cormark reaffirmed a "market perform" rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Finally, HSBC cut Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.77.
Check Out Our Latest Stock Analysis on Ballard Power Systems
Ballard Power Systems Trading Up 10.8 %
The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The business's 50-day moving average is $1.53 and its 200 day moving average is $1.83. The firm has a market capitalization of $550.93 million, a P/E ratio of -1.67 and a beta of 1.72.
Institutional Investors Weigh In On Ballard Power Systems
Hedge funds have recently modified their holdings of the company. First Commonwealth Financial Corp PA acquired a new stake in shares of Ballard Power Systems during the third quarter valued at about $27,000. Toronto Dominion Bank increased its position in Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company's stock valued at $50,000 after acquiring an additional 20,949 shares during the period. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter valued at $52,000. Daiwa Securities Group Inc. lifted its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock worth $54,000 after purchasing an additional 14,415 shares during the period. Finally, MQS Management LLC bought a new position in Ballard Power Systems during the 2nd quarter worth $79,000. Institutional investors and hedge funds own 28.02% of the company's stock.
About Ballard Power Systems
(
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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.
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