CIBC Has Lowered Expectations for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price dropped by research analysts at CIBC from $1.40 to $1.20 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “underperformer” rating on the technology company’s stock. CIBC’s target price would suggest a potential downside of 25.93% from the company’s previous close.

A number of other equities research analysts also recently commented on BLDP. BMO Capital Markets reduced their price objective on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and decreased their price target for the company from $2.50 to $1.50 in a research note on Monday, August 12th. Susquehanna cut their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Stock Up 11.7 %

Shares of Ballard Power Systems stock opened at $1.62 on Wednesday. Ballard Power Systems has a one year low of $1.23 and a one year high of $4.02. The company has a market cap of $485.06 million, a P/E ratio of -1.47 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The firm has a fifty day moving average of $1.54 and a two-hundred day moving average of $2.01.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC acquired a new stake in Ballard Power Systems in the 1st quarter worth about $39,000. First Commonwealth Financial Corp PA purchased a new stake in Ballard Power Systems in the third quarter valued at approximately $27,000. Scientech Research LLC acquired a new position in Ballard Power Systems during the second quarter worth approximately $52,000. Daiwa Securities Group Inc. increased its position in Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in Ballard Power Systems by 300.0% during the third 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. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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.