Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) PT at $2.33

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given a consensus recommendation of “Reduce” by the fifteen research firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.33.

A number of research firms recently commented on BLDP. TD Cowen upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research report on Friday, January 9th. Roth Mkm restated a “neutral” rating and issued a $3.00 price target on shares of Ballard Power Systems in a report on Friday, November 14th. TD Securities raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price target on the stock in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th.

Ballard Power Systems Stock Up 2.8%

Ballard Power Systems stock opened at $2.18 on Monday. The firm has a market capitalization of $655.72 million, a price-to-earnings ratio of -5.45 and a beta of 1.75. The company’s 50 day simple moving average is $2.47 and its 200 day simple moving average is $2.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $4.10.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently modified their holdings of BLDP. Vanguard Personalized Indexing Management LLC boosted its stake in Ballard Power Systems by 21.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock valued at $48,000 after purchasing an additional 5,482 shares during the period. Amundi lifted its holdings in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after buying an additional 9,454 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Ballard Power Systems by 27.7% in the fourth quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock valued at $118,000 after acquiring an additional 10,000 shares during the period. Swiss Life Asset Management Ltd acquired a new position in shares of Ballard Power Systems in the fourth quarter valued at about $26,000. Finally, Intesa Sanpaolo S.p.A. bought a new position in Ballard Power Systems during the fourth quarter worth about $28,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.