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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has earned a consensus recommendation of “Reduce” from the sixteen ratings firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $2.77.

A number of equities analysts have recently issued reports on BLDP shares. CIBC dropped their target price 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. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th.

Ballard Power Systems Trading Up 2.5 %

Shares of BLDP stock opened at $1.23 on Monday. 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 fifty day moving average of $1.45 and a 200-day moving average of $1.56. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38. The stock has a market cap of $368.31 million, a price-to-earnings ratio of -1.12 and a beta of 1.75.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BLDP. Portolan Capital Management LLC bought a new stake in shares of Ballard Power Systems during the fourth quarter worth $2,508,000. Millennium Management LLC lifted its position in Ballard Power Systems by 79.9% during the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after purchasing an additional 1,177,718 shares during the period. Two Sigma Investments LP boosted its stake in shares of Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares during the last quarter. Jane Street Group LLC boosted its stake in shares of Ballard Power Systems by 137.6% in 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 during the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after buying an additional 644,861 shares during the period. 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.