Raymond James Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.00

Ballard Power Systems (NASDAQ:BLDP - Free Report) TSE: BLD had its target price cut by Raymond James from $2.50 to $2.00 in a research note released on Friday, MarketBeat reports. They currently have a market perform rating on the technology company's stock.

A number of other brokerages have also issued reports on BLDP. CIBC lowered their price target 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. BMO Capital Markets lowered 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. TD Cowen upgraded Ballard Power Systems to a "strong sell" rating in a report on Monday, January 13th. Finally, Roth Mkm lowered their target price on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a report on Friday. Six research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $2.13.

Ballard Power Systems Trading Down 0.7 %

Shares of NASDAQ BLDP traded down $0.01 during trading hours on Friday, reaching $1.34. The stock had a trading volume of 6,513,358 shares, compared to its average volume of 4,861,975. 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 firm has a market cap of $401.25 million, a price-to-earnings ratio of -1.22 and a beta of 1.75. The business's fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.54. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38.

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Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently made changes to their positions in the company. First Commonwealth Financial Corp PA acquired a new position in shares of Ballard Power Systems in the 3rd quarter valued at $27,000. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $27,000. Toronto Dominion Bank grew its position in Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company's stock worth $50,000 after purchasing an additional 20,949 shares during the period. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the 4th quarter worth about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Ballard Power Systems by 35.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock worth $68,000 after purchasing an additional 10,767 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

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.