Brokerages Set Ballard Power Systems Inc. (NASDAQ:BLDP) PT at $2.77

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned a consensus rating of “Reduce” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $2.77.

A number of research firms recently weighed in on BLDP. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. CIBC dropped their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th. Citigroup lowered their target price on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Finally, Hsbc Global Res downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors have recently made changes to their positions in the company. First Commonwealth Financial Corp PA acquired a new stake in Ballard Power Systems during the 3rd quarter worth approximately $27,000. Scientech Research LLC acquired a new position in Ballard Power Systems in the 2nd quarter valued at $52,000. Daiwa Securities Group Inc. increased its position in Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after buying an additional 14,415 shares during the period. Toronto Dominion Bank lifted its holdings in shares of Ballard Power Systems by 300.0% during the third 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 in the last quarter. Finally, MQS Management LLC bought a new stake in shares of Ballard Power Systems in the second quarter valued at about $79,000. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $1.69 on Wednesday. Ballard Power Systems has a one year low of $1.23 and a one year high of $3.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The stock’s 50-day moving average is $1.52 and its 200-day moving average is $1.86. The firm has a market cap of $506.02 million, a price-to-earnings ratio of -1.54 and a beta of 1.72.

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.