Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

A number of other equities analysts have also commented on BLDP. Cowen and Company set a $3.00 price objective on Ballard Power Systems and gave the stock a “hold” rating in a research note on Monday. Roth Capital set a $3.00 price objective on Ballard Power Systems and gave the stock a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price objective on the stock in a research note on Tuesday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $3.00 price objective on shares of Ballard Power Systems in a research note on Friday, August 4th. Finally, FBR & Co set a $4.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a research note on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $3.25.

Shares of Ballard Power Systems (NASDAQ:BLDP) traded up 2.94% during mid-day trading on Monday, hitting $2.80. 633,370 shares of the company were exchanged. Ballard Power Systems has a 12-month low of $1.61 and a 12-month high of $3.48. The company’s market capitalization is $493.76 million. The firm has a 50 day moving average of $2.89 and a 200 day moving average of $2.58.

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A number of institutional investors have recently modified their holdings of BLDP. Renaissance Technologies LLC raised its position in shares of Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after buying an additional 137,200 shares during the period. KCG Holdings Inc. raised its position in shares of Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares during the period. Bluestein R H & Co. raised its position in shares of Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the period. 2.59% of the stock is currently owned by hedge funds and other institutional investors.

About Ballard Power Systems

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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