Ballard Power Systems Inc. (NASDAQ:BLDP) Receives $2.77 Consensus Target Price from Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the sixteen ratings firms that are presently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $2.77.

BLDP has been the subject of several recent analyst reports. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. CIBC cut their target price on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. Finally, Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.47 on Thursday. The company has a market cap of $440.18 million, a price-to-earnings ratio of -1.34 and a beta of 1.69. Ballard Power Systems has a fifty-two week low of $1.23 and a fifty-two week high of $3.38. 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 stock has a fifty day moving average price of $1.57 and a 200-day moving average price of $1.64.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Portolan Capital Management LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter worth $2,508,000. Jane Street Group LLC lifted its holdings in Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after buying an additional 646,219 shares during the period. Van ECK Associates Corp grew its position in shares of Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after buying an additional 644,861 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Ballard Power Systems by 494.0% in the fourth quarter. XTX Topco Ltd now owns 523,941 shares of the technology company’s stock valued at $870,000 after buying an additional 435,729 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ballard Power Systems by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock worth $1,695,000 after acquiring an additional 425,374 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.