Ballard Power Systems Inc. (NASDAQ:BLDP) shares reached a new 52-week high on Thursday . The stock traded as high as $2.38 and last traded at $2.22, with a volume of 8,914,256 shares traded. The stock had previously closed at $1.97.

BLDP has been the subject of several research analyst reports. Zacks Investment Research raised Ballard Power Systems from a “sell” rating to a “hold” rating and set a $1.50 price objective for the company in a research report on Wednesday, June 29th. Roth Capital reissued a “buy” rating and issued a $2.50 price objective on shares of Ballard Power Systems in a research report on Sunday. Finally, FBR & Co reissued a “hold” rating and issued a $1.50 price objective on shares of Ballard Power Systems in a research report on Tuesday, July 12th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Ballard Power Systems currently has an average rating of “Buy” and an average target price of $2.26.

The company’s market capitalization is $337.15 million. The stock’s 50-day moving average price is $1.70 and its 200-day moving average price is $1.46.

Ballard Power Systems (NASDAQ:BLDP) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $17.60 million for the quarter, compared to analysts’ expectations of $18.32 million. Analysts expect that Ballard Power Systems Inc. will post ($0.15) earnings per share for the current fiscal year.

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.

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