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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Free Report) (TSE:BLD) have earned an average rating of “Reduce” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.25.

A number of research analysts have issued reports on BLDP shares. National Bankshares dropped their target price on shares of Ballard Power Systems from $7.00 to $5.00 and set a “sector perform” rating for the company in a report on Wednesday, November 8th. Jefferies Financial Group dropped their price objective on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, January 30th. Wells Fargo & Company dropped their price objective on shares of Ballard Power Systems from $5.00 to $3.50 and set an “underweight” rating for the company in a research note on Monday, November 13th. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research note on Tuesday, October 24th. Finally, BMO Capital Markets dropped their price objective on shares of Ballard Power Systems from $3.65 to $3.50 and set an “underperform” rating for the company in a research note on Wednesday, November 8th.

Read Our Latest Research Report on Ballard Power Systems

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $3.23 on Friday. Ballard Power Systems has a 12-month low of $2.91 and a 12-month high of $6.51. The company has a quick ratio of 11.59, a current ratio of 12.57 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $3.48 and a two-hundred day moving average of $3.73.

Institutional Trading of Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Ballard Power Systems by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after acquiring an additional 148,321 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ballard Power Systems by 31.3% in the 4th quarter. Legal & General Group Plc now owns 4,253,396 shares of the technology company’s stock valued at $20,342,000 after purchasing an additional 1,014,539 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ballard Power Systems by 27.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after purchasing an additional 849,311 shares during the last quarter. Norges Bank acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at $17,983,000. Finally, Morgan Stanley boosted its holdings in shares of Ballard Power Systems by 20.9% in the 4th quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after purchasing an additional 638,824 shares during the last quarter. 23.41% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

(Get Free Report

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 power generation.

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Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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