Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Rating of “Reduce” by Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average rating of “Reduce” by the fifteen ratings firms that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $2.77.

A number of research firms recently weighed in on BLDP. CIBC cut their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. Hsbc Global Res cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Susquehanna dropped their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st.

Institutional Trading of Ballard Power Systems

A number of hedge funds have recently bought and sold shares of BLDP. Van ECK Associates Corp raised its stake in shares of Ballard Power Systems by 8.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after acquiring an additional 186,833 shares in the last quarter. Jane Street Group LLC increased its position in Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after buying an additional 646,219 shares in the last quarter. Penserra Capital Management LLC raised its stake in Ballard Power Systems by 52.6% in the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after buying an additional 330,815 shares during the last quarter. TD Asset Management Inc boosted its holdings in Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 8,154 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Ballard Power Systems by 79.7% during 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 during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.70 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.83. The business has a 50 day simple moving average of $1.52 and a two-hundred day simple moving average of $1.87. The stock has a market capitalization of $509.02 million, a PE ratio of -1.55 and a beta of 1.72.

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.