Roth Mkm Has Lowered Expectations for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective lowered by Roth Mkm from $1.75 to $1.25 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued research reports about the company. BMO Capital Markets dropped their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research report on Friday. CIBC reduced their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. Finally, TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus target price of $2.31.

Ballard Power Systems Price Performance

BLDP opened at $1.32 on Friday. Ballard Power Systems has a 12-month low of $1.08 and a 12-month high of $3.38. The business’s fifty day simple moving average is $1.43 and its 200-day simple moving average is $1.55. The company has a market capitalization of $395.26 million, a price-to-earnings ratio of -1.20 and a beta of 1.75. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently made changes to their positions in BLDP. Portolan Capital Management LLC acquired a new stake in shares of Ballard Power Systems in the fourth quarter worth approximately $2,508,000. Millennium Management LLC boosted its stake in shares of Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after acquiring an additional 1,177,718 shares during the last quarter. Two Sigma Investments LP boosted its stake in shares of Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after acquiring 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 third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after acquiring an additional 646,219 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Ballard Power Systems by 35.4% during the fourth 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 in the last quarter. 28.02% of the stock is 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.