Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $2.00 by Analysts at Raymond James

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price cut by Raymond James from $2.50 to $2.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. They currently have a market perform rating on the technology company’s stock.

Several other equities analysts have also recently commented on the company. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. 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. BMO Capital Markets lowered their price target on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research report on Friday. Finally, Roth Mkm reduced their price target on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Friday. 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $1.32 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a 52-week low of $1.08 and a 52-week high of $3.38. The firm has a market cap of $395.26 million, a price-to-earnings ratio of -1.20 and a beta of 1.75. The business’s fifty day moving average is $1.43 and its 200 day moving average is $1.55.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI raised its stake in shares of Ballard Power Systems by 14.7% in the fourth quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock worth $120,000 after buying an additional 9,287 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after buying an additional 10,767 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Ballard Power Systems by 7.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after purchasing an additional 13,639 shares during the last quarter. First Commonwealth Financial Corp PA bought a new position in Ballard Power Systems during the third quarter valued at approximately $27,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Ballard Power Systems by 44.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock valued at $82,000 after purchasing an additional 15,160 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.