Analysts Set Ballard Power Systems Inc. (NASDAQ:BLDP) Price Target at $2.78

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) have been given an average recommendation of “Reduce” by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $2.78.

Several equities analysts have recently issued reports on BLDP shares. Susquehanna decreased their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. National Bankshares decreased their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. Truist Financial cut their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Raymond James decreased their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Finally, Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th.

Ballard Power Systems Stock Up 2.7 %

Shares of Ballard Power Systems stock opened at $1.53 on Friday. The business has a fifty day simple moving average of $1.55 and a 200 day simple moving average of $2.03. The stock has a market cap of $458.11 million, a PE ratio of -1.39 and a beta of 1.78. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 12 month low of $1.23 and a 12 month high of $4.02.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently modified their holdings of BLDP. Tidal Investments LLC grew its holdings 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 worth $477,000 after buying an additional 38,616 shares in the last quarter. Virtu Financial LLC acquired a new position in Ballard Power Systems during the 3rd quarter worth approximately $135,000. Toronto Dominion Bank grew 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 acquiring an additional 20,949 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Ballard Power Systems by 51.0% in the third 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 during the last quarter. Finally, XTX Topco Ltd raised its holdings in shares of Ballard Power Systems by 29.0% in the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock valued at $159,000 after purchasing an additional 19,856 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

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.