BMO Capital Markets Lowers Ballard Power Systems (NASDAQ:BLDP) Price Target to $1.20

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price lowered by BMO Capital Markets from $1.30 to $1.20 in a research note issued on Friday,Benzinga reports. The firm currently has an “underperform” rating on the technology company’s stock. BMO Capital Markets’ price target suggests a potential downside of 9.09% from the company’s current price.

Several other research firms also recently commented on BLDP. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. CIBC decreased their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and a consensus price target of $2.31.

Ballard Power Systems Price Performance

NASDAQ:BLDP opened at $1.32 on Friday. Ballard Power Systems has a one year low of $1.08 and a one year high of $3.38. The company has a market cap of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75. The firm’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of BLDP. Portolan Capital Management LLC bought a new stake in Ballard Power Systems during the fourth quarter worth about $2,508,000. Millennium Management LLC lifted its position in Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after purchasing an additional 1,177,718 shares during the period. Two Sigma Investments LP lifted its position in Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after purchasing an additional 661,413 shares during the period. Jane Street Group LLC lifted its position in Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 646,219 shares during the period. Finally, Van ECK Associates Corp lifted its position in Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after purchasing an additional 644,861 shares during the period. 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.