Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price target dropped by Citigroup from $2.00 to $1.50 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "neutral" rating on the technology company's stock. Citigroup's price objective indicates a potential upside of 15.38% from the stock's current price.
BLDP has been the subject of several other research reports. Roth Mkm reduced their target price on shares of Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a report on Friday, March 14th. CIBC reduced their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating for the company in a report on Wednesday, December 4th. HSBC reduced their target price on shares of 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 reduced 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. Finally, Raymond James reduced 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 report on Friday, March 14th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.13.
Check Out Our Latest Analysis on BLDP
Ballard Power Systems Stock Down 1.5 %
Shares of Ballard Power Systems stock traded down $0.02 on Tuesday, hitting $1.30. The company had a trading volume of 4,675,981 shares, compared to its average volume of 4,898,849. The firm has a market capitalization of $389.27 million, a P/E ratio of -1.18 and a beta of 1.75. Ballard Power Systems has a twelve month low of $1.08 and a twelve month high of $3.38. 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 stock has a 50-day moving average of $1.38 and a 200-day moving average of $1.53.
Hedge Funds Weigh In On Ballard Power Systems
Large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of Ballard Power Systems by 137.6% in the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company's stock valued at $2,008,000 after purchasing an additional 646,219 shares during the period. Geode Capital Management LLC grew its stake in shares of Ballard Power Systems by 51.0% in the third quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company's stock valued at $779,000 after acquiring an additional 146,104 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock valued at $4,094,000 after acquiring an additional 644,861 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Ballard Power Systems by 29.0% in the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company's stock valued at $159,000 after acquiring an additional 19,856 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Ballard Power Systems by 16.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 980,067 shares of the technology company's stock valued at $1,629,000 after acquiring an additional 134,991 shares in the last quarter. 28.02% of the stock is owned by institutional investors.
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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