Roth Capital set a $3.00 target price on Ballard Power Systems Inc. (NASDAQ:BLDP) in a research report sent to investors on Monday. The firm currently has a a buy rating on the stock.

Several other research firms have also weighed in on BLDP. FBR & Co restated an outperform rating and set a $3.00 price objective on shares of Ballard Power Systems in a research report on Tuesday, September 27th. Zacks Investment Research upgraded shares of Ballard Power Systems from a hold rating to a buy rating and set a $2.50 price objective for the company in a research report on Tuesday, September 27th. Finally, TheStreet upgraded shares of Ballard Power Systems from a sell rating to a hold rating in a research report on Friday, August 26th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $2.54.

Ballard Power Systems (NASDAQ:BLDP) traded down 5.00% during midday trading on Monday, reaching $2.28. 646,437 shares of the company were exchanged. Ballard Power Systems has a 52-week low of $1.11 and a 52-week high of $2.53. The firm’s 50-day moving average price is $2.12 and its 200 day moving average price is $1.66. The stock’s market capitalization is $357.83 million.

Ballard Power Systems (NASDAQ:BLDP) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Ballard Power Systems had a negative net margin of 30.51% and a negative return on equity of 19.49%. The company earned $17.60 million during the quarter, compared to analyst estimates of $18.32 million. Equities analysts predict that Ballard Power Systems will post ($0.15) earnings per share for the current year.

An institutional investor recently raised its position in Ballard Power Systems stock. Royal Bank of Canada boosted its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) by 139.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,923 shares of the company’s stock after buying an additional 57,634 shares during the period. Royal Bank of Canada owned approximately 0.06% of Ballard Power Systems worth $124,000 as of its most recent SEC filing. 4.01% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

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.

5 Day Chart for NASDAQ:BLDP

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