Raymond James Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price target trimmed by Raymond James from $2.50 to $2.00 in a report issued on Friday morning,BayStreet.CA reports. The brokerage currently has a market perform rating on the technology company’s stock.

A number of other equities research analysts have also commented on the company. CIBC decreased their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research report on Wednesday, December 4th. BMO Capital Markets cut their target price on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a report on Friday. Roth Mkm decreased their target price on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Friday. Finally, TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and a consensus price target of $2.31.

Ballard Power Systems Trading Up 3.1 %

Shares of NASDAQ:BLDP opened at $1.32 on Friday. Ballard Power Systems has a twelve month low of $1.08 and a twelve month high of $3.38. The firm has a market cap of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75. The company has a 50 day moving average of $1.43 and a 200-day moving average of $1.55. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Banque Cantonale Vaudoise increased its stake in shares of Ballard Power Systems by 7.7% in the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after buying an additional 13,639 shares during the period. Penserra Capital Management LLC boosted its position in shares of Ballard Power Systems by 52.6% during the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after purchasing an additional 330,815 shares in the last quarter. DRW Securities LLC boosted its holdings in Ballard Power Systems by 2,097.1% in the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock worth $600,000 after acquiring an additional 318,151 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Ballard Power Systems by 79.7% in the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock worth $786,000 after acquiring an additional 193,658 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Ballard Power Systems by 8.8% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 344,589 shares of the technology company’s stock worth $620,000 after acquiring an additional 27,787 shares in 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.