National Bankshares Issues Pessimistic Forecast for Ballard Power Systems (NASDAQ:BLDP) Stock Price

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price trimmed by National Bankshares from $2.60 to $2.00 in a research report released on Friday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the technology company’s stock.

Several other brokerages have also recently commented on BLDP. BMO Capital Markets lowered their target price on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a report on Friday. CIBC lowered 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. Raymond James dropped their price objective on Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Finally, HSBC cut their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research report on Friday. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and an average price target of $2.31.

Ballard Power Systems Trading Up 3.1 %

BLDP stock opened at $1.32 on Friday. Ballard Power Systems has a 52 week low of $1.08 and a 52 week high of $3.38. The company has a market capitalization of $395.26 million, a PE ratio of -1.20 and a beta of 1.75. The company’s 50-day simple moving average is $1.43 and its 200 day simple moving average is $1.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BLDP. First Commonwealth Financial Corp PA acquired a new stake in shares of Ballard Power Systems during the 3rd quarter valued at $27,000. Raymond James Financial Inc. bought a new position in Ballard Power Systems in the fourth quarter valued at about $27,000. Toronto Dominion Bank boosted its stake 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 valued at $50,000 after purchasing an additional 20,949 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Ballard Power Systems during the fourth quarter valued at about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Ballard Power Systems by 35.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares during the last quarter. 28.02% of the stock is currently 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.