Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) had its target price reduced by research analysts at Raymond James from $2.50 to $2.00 in a research note issued on Friday,BayStreet.CA reports. The firm currently has a “market perform” rating on the technology company’s stock. Raymond James’ price objective indicates a potential upside of 51.52% from the company’s previous close.
A number of other equities analysts also recently weighed in on BLDP. BMO Capital Markets lowered their price target on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research report on Friday. CIBC reduced their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. Roth Mkm reduced 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. Finally, TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and an average price target of $2.31.
View Our Latest Stock Analysis on BLDP
Ballard Power Systems Price Performance
Institutional Investors Weigh In On Ballard Power Systems
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its position in shares of 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 purchasing an additional 646,219 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after purchasing an additional 146,104 shares in the last quarter. Van ECK Associates Corp grew its position in Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares in the last quarter. XTX Topco Ltd grew its position in Ballard Power Systems by 29.0% in the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after acquiring an additional 19,856 shares in the last quarter. Finally, Tidal Investments LLC grew its position in Ballard Power Systems by 17.1% in the third quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock worth $477,000 after acquiring an additional 38,616 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.
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.
See Also
- Five stocks we like better than Ballard Power Systems
- What to Know About Investing in Penny Stocks
- Ignore Reports, Apple Won’t Install Starlink with iOS 18.3
- How Technical Indicators Can Help You Find Oversold Stocks
- Casey’s Uptrend Remains Strong—New Highs on the Horizon
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Taiwan Semiconductor’s Huge U.S. Move—Stock Impact Ahead
Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.