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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average recommendation of “Reduce” from the sixteen analysts that are currently covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $2.77.

A number of research firms have recently weighed in on BLDP. Susquehanna cut their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, CIBC decreased their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors have recently bought and sold shares of the company. Jane Street Group LLC raised its stake in Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 646,219 shares during the period. Geode Capital Management LLC raised its stake in Ballard Power Systems by 51.0% during the third quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock worth $779,000 after purchasing an additional 146,104 shares during the period. XTX Topco Ltd raised its stake in Ballard Power Systems by 29.0% during the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after purchasing an additional 19,856 shares during the period. Tidal Investments LLC increased its position in shares of Ballard Power Systems by 17.1% during the third quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock valued at $477,000 after acquiring an additional 38,616 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Up 9.1 %

NASDAQ:BLDP opened at $1.44 on Thursday. The firm has a market capitalization of $431.19 million, a P/E ratio of -1.31 and a beta of 1.69. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.38. The company’s fifty day moving average price is $1.58 and its 200-day moving average price is $1.65. 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 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.