Ballard Power Systems (TSE:BLDP) Stock Price Down 6.5%

Ballard Power Systems Inc. (TSE:BLDP – Get Rating)’s stock price dropped 6.5% during trading on Friday . The stock traded as low as C$6.55 and last traded at C$6.59. Approximately 229,736 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 767,754 shares. The stock had previously closed at C$7.05.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered Ballard Power Systems to a “sell” rating and set a C$5.00 price objective for the company. in a research note on Friday, January 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Ballard Power Systems currently has an average rating of “Hold” and an average price target of C$8.07.

Ballard Power Systems Price Performance

The company has a market cap of C$2.04 billion, a P/E ratio of -8.33, a P/E/G ratio of -2,030.00 and a beta of 1.85. The company has a debt-to-equity ratio of 1.32, a quick ratio of 13.57 and a current ratio of 14.44. The firm’s fifty day moving average is C$8.01 and its two-hundred day moving average is C$8.07.

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.