Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Rating of “Reduce” by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has earned a consensus recommendation of “Reduce” from the sixteen research firms that are covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $2.77.

Several equities analysts have weighed in on BLDP shares. Susquehanna cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. HSBC lowered 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. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. Finally, 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.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds have recently bought and sold shares of the business. Jane Street Group LLC grew its stake in Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after acquiring an additional 646,219 shares in the last quarter. Penserra Capital Management LLC grew its stake in Ballard Power Systems by 52.6% in the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock worth $1,727,000 after purchasing an additional 330,815 shares in the last quarter. DRW Securities LLC increased its holdings in Ballard Power Systems by 2,097.1% during the 3rd quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock worth $600,000 after purchasing an additional 318,151 shares during the period. Decade Renewable Partners LP bought a new stake in Ballard Power Systems during the 2nd quarter valued at $450,000. Finally, BNP Paribas Financial Markets raised its position in Ballard Power Systems by 79.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock valued at $786,000 after purchasing an additional 193,658 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 3.1 %

Shares of Ballard Power Systems stock opened at $1.58 on Friday. Ballard Power Systems has a twelve month low of $1.23 and a twelve month high of $3.66. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $1.57 and a 200-day moving average price of $1.77. The firm has a market cap of $473.08 million, a price-to-earnings ratio of -1.44 and a beta of 1.67.

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.