Citigroup Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective decreased by stock analysts at Citigroup from $2.00 to $1.50 in a report issued on Tuesday,BayStreet.CA reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 11.94% from the company’s previous close.

A number of other research analysts also recently weighed in on BLDP. UBS Group set a $1.25 target price on shares of Ballard Power Systems in a research report on Friday, March 14th. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. HSBC decreased their target price on Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research report on Friday, March 14th. Roth Mkm decreased their price objective on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a research note on Thursday, March 13th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $2.13.

Ballard Power Systems Price Performance

BLDP opened at $1.34 on Tuesday. Ballard Power Systems has a fifty-two week low of $1.08 and a fifty-two week high of $3.38. The firm has a 50-day moving average of $1.40 and a 200 day moving average of $1.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The firm has a market cap of $401.25 million, a P/E ratio of -1.22 and a beta of 1.75.

Institutional Trading of Ballard Power Systems

Several institutional investors and hedge funds have recently bought and sold shares of BLDP. First Commonwealth Financial Corp PA purchased a new position in shares of Ballard Power Systems during the 3rd quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in Ballard Power Systems during the fourth quarter valued at $27,000. Toronto Dominion Bank grew its position in Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after buying an additional 20,949 shares in the last quarter. Headlands Technologies LLC purchased a new position in Ballard Power Systems during the fourth quarter worth about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after acquiring an additional 10,767 shares during the last quarter. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

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.