Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) Target Price at $2.13

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus rating of “Reduce” from the sixteen brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $2.13.

A number of analysts have commented on BLDP shares. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. National Bankshares decreased their price objective on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Citigroup cut their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. 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. Finally, UBS Group set a $1.25 price target on shares of Ballard Power Systems in a research report on Friday, March 14th.

Ballard Power Systems Price Performance

Ballard Power Systems stock opened at $1.08 on Friday. The stock has a market cap of $323.39 million, a price-to-earnings ratio of -0.98 and a beta of 1.84. Ballard Power Systems has a 12-month low of $1.01 and a 12-month high of $3.38. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.49.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Ballard Power Systems during the 4th quarter valued at $27,000. Toronto Dominion Bank lifted its stake in shares of Ballard Power Systems by 300.0% during the 3rd 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 during the last quarter. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems during the 4th quarter worth about $52,000. Harel Insurance Investments & Financial Services Ltd. grew 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 valued at $68,000 after buying an additional 10,767 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in Ballard Power Systems by 44.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock valued at $82,000 after acquiring an additional 15,160 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

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.