Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) Target Price at $2.77

Shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Free Report) (TSE:BLD) have earned a consensus rating of “Reduce” from the sixteen analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $2.77.

A number of analysts recently issued reports on the company. Susquehanna dropped their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Citigroup lowered their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a report on Friday, November 1st.

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Ballard Power Systems Trading Down 3.8 %

NASDAQ:BLDP opened at $1.52 on Friday. The company has a market cap of $455.12 million, a P/E ratio of -1.38 and a beta of 1.67. Ballard Power Systems has a 1 year low of $1.23 and a 1 year high of $3.66. 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’s fifty day moving average price is $1.58 and its two-hundred day moving average price is $1.76.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. First Commonwealth Financial Corp PA bought a new stake in Ballard Power Systems in the third quarter worth $27,000. Toronto Dominion Bank lifted its stake in shares of Ballard Power Systems by 300.0% in the 3rd 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 last quarter. Scientech Research LLC bought a new stake in shares of Ballard Power Systems in the 2nd quarter valued at about $52,000. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Ballard Power Systems by 35.9% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after acquiring an additional 10,767 shares during the period. Finally, MQS Management LLC bought a new position in Ballard Power Systems during the 2nd quarter worth approximately $79,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Company Profile

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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.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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