Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.78

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given a consensus rating of “Reduce” by the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $2.78.

A number of brokerages have commented on BLDP. TD Securities cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price target for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. Raymond James cut their target price on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Jefferies Financial Group lowered their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Citigroup dropped their price objective on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Finally, Cibc World Mkts downgraded shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th.

Ballard Power Systems Stock Up 2.7 %

Shares of BLDP stock opened at $1.53 on Friday. Ballard Power Systems has a one year low of $1.23 and a one year high of $4.02. 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 stock has a fifty day moving average price of $1.55 and a 200 day moving average price of $2.03. The stock has a market cap of $458.11 million, a P/E ratio of -1.39 and a beta of 1.78.

Institutional Trading of Ballard Power Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Commonwealth Financial Corp PA acquired a new position in Ballard Power Systems during the 3rd quarter worth $27,000. Tidal Investments LLC bought a new stake in shares of Ballard Power Systems during the first quarter worth $39,000. Toronto Dominion Bank lifted its stake in shares of 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 during the period. Scientech Research LLC bought a new position in Ballard Power Systems in the second quarter valued at about $52,000. Finally, Daiwa Securities Group Inc. boosted its holdings in Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after acquiring an additional 14,415 shares during the last quarter. Institutional investors and hedge funds 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.