Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) hit a new 52-week high on Monday . The company traded as high as $5.36 and last traded at $5.35, with a volume of 3,141,653 shares. The stock had previously closed at $5.10.

A number of equities research analysts have weighed in on the company. HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Ballard Power Systems in a report on Tuesday, September 26th. FBR & Co reiterated a “buy” rating and issued a $6.00 target price (up from $3.50) on shares of Ballard Power Systems in a report on Monday, September 18th. Cowen and Company lifted their target price on Ballard Power Systems from $3.00 to $4.50 and gave the stock a “market perform” rating in a report on Friday, September 15th. Zacks Investment Research downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, BidaskClub downgraded Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Ballard Power Systems has a consensus rating of “Hold” and a consensus price target of $4.55.

The company’s 50 day moving average is $4.06 and its 200-day moving average is $3.12. The stock’s market capitalization is $948.73 million.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its position in Ballard Power Systems by 16.9% during the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after purchasing an additional 26,314 shares during the period. KCG Holdings Inc. grew its position in Ballard Power Systems by 220.0% during the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after purchasing an additional 140,603 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Ballard Power Systems during the 2nd quarter worth about $105,000. Finally, Renaissance Technologies LLC grew its position in Ballard Power Systems by 483.1% during the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after purchasing an additional 137,200 shares during the period. 2.81% of the stock is currently owned by hedge funds and other institutional investors.

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Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

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