Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $1.25 by Analysts at Roth Mkm

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target cut by stock analysts at Roth Mkm from $1.75 to $1.25 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Roth Mkm’s price target suggests a potential downside of 5.30% from the stock’s current price.

Several other analysts also recently commented on BLDP. CIBC lowered their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. Finally, BMO Capital Markets lowered their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $1.32 on Friday. The company has a market cap of $395.26 million, a PE ratio of -1.20 and a beta of 1.75. Ballard Power Systems has a 52 week low of $1.08 and a 52 week high of $3.38. The business has a 50 day moving average price of $1.43 and a 200-day moving average price of $1.55. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Institutional Trading of Ballard Power Systems

A number of large investors have recently bought and sold shares of the company. Invesco Ltd. increased its position in Ballard Power Systems by 5.6% in the fourth quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock worth $5,973,000 after buying an additional 191,582 shares during the last quarter. Millennium Management LLC increased its position in Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after buying an additional 1,177,718 shares during the last quarter. Van ECK Associates Corp increased its position in Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after buying an additional 644,861 shares during the last quarter. Two Sigma Investments LP increased its position in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after buying an additional 661,413 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in Ballard Power Systems by 19.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock worth $2,529,000 after buying an additional 252,524 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

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.