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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given a consensus recommendation of “Reduce” by the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.13.

Several research analysts have recently commented on BLDP shares. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a report on Thursday, March 13th. Citigroup lowered their price objective 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. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Roth Mkm decreased their price target on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Finally, HSBC dropped their price target on Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research note on Friday, March 14th.

Ballard Power Systems Price Performance

NASDAQ:BLDP opened at $1.08 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The firm 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 52 week low of $1.01 and a 52 week high of $3.38. The firm’s 50-day simple moving average is $1.30 and its 200 day simple moving average is $1.49.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently bought and sold shares of BLDP. Raymond James Financial Inc. bought a new position in shares of Ballard Power Systems during the 4th quarter worth about $27,000. Toronto Dominion Bank raised its stake in 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 period. Headlands Technologies LLC bought a new position in Ballard Power Systems in the fourth quarter worth approximately $52,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after acquiring an additional 10,767 shares during the period. Finally, Itau Unibanco Holding S.A. grew its stake in Ballard Power Systems by 44.1% in the fourth 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 currently owned by institutional investors and hedge funds.

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.