Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Average Rating of “Reduce” from Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the fifteen brokerages that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $2.77.

BLDP has been the topic of a number of recent analyst reports. Susquehanna lowered their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Hsbc Global Res cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. HSBC lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Citigroup lowered their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Finally, StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st.

Ballard Power Systems Trading Up 0.6 %

NASDAQ:BLDP opened at $1.70 on Wednesday. Ballard Power Systems has a 1 year low of $1.23 and a 1 year high of $3.83. The stock’s fifty day moving average price is $1.52 and its two-hundred day moving average price is $1.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The company has a market cap of $509.02 million, a P/E ratio of -1.55 and a beta of 1.72.

Institutional Trading of Ballard Power Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Commonwealth Financial Corp PA bought a new position in Ballard Power Systems in the 3rd quarter worth approximately $27,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter worth $52,000. Daiwa Securities Group Inc. boosted its position in shares of 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 acquiring an additional 14,415 shares during the last quarter. Toronto Dominion Bank grew 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 valued at $50,000 after acquiring an additional 20,949 shares in the last quarter. Finally, MQS Management LLC bought a new stake in Ballard Power Systems in the 2nd quarter valued at $79,000. Institutional investors own 28.02% of the company’s stock.

About Ballard Power Systems

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.