Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.13 Consensus PT from Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD has been given a consensus rating of "Reduce" by the sixteen analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $2.13.

A number of analysts have recently issued reports on the stock. Raymond James cut their target price on shares of Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating for the company in a research note on Friday, March 14th. Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a report on Thursday, March 13th. UBS Group set a $1.25 target price on Ballard Power Systems in a research note on Friday, March 14th. BMO Capital Markets dropped their price target on Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating for the company in a report on Friday, March 14th. Finally, TD Cowen raised Ballard Power Systems to a "strong sell" rating in a report on Monday, January 13th.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently bought and sold shares of BLDP. Toronto Dominion Bank lifted its holdings in shares of Ballard Power Systems by 181.5% during the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company's stock worth $131,000 after acquiring an additional 50,695 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Ballard Power Systems during the fourth quarter valued at approximately $150,000. Two Sigma Advisers LP lifted its stake in Ballard Power Systems by 104.6% during the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company's stock worth $1,619,000 after purchasing an additional 498,600 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after purchasing an additional 661,413 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Ballard Power Systems by 51.3% in the 4th quarter. Tidal Investments LLC now owns 400,533 shares of the technology company's stock valued at $665,000 after purchasing an additional 135,752 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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Ballard Power Systems Stock Performance

BLDP traded up $0.04 during trading hours on Friday, reaching $1.20. The company's stock had a trading volume of 7,529,702 shares, compared to its average volume of 5,346,236. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The company's 50-day moving average is $1.27 and its 200-day moving average is $1.47. Ballard Power Systems has a 52 week low of $1.00 and a 52 week high of $3.34. The firm has a market cap of $359.33 million, a PE ratio of -1.09 and a beta of 1.84.

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.