Ballard Power Systems, Inc. (BLDP) Given “Buy” Rating at HC Wainwright
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Friday. They currently have a $3.00 target price on the technology company’s stock. HC Wainwright’s price objective suggests a potential upside of 3.09% from the stock’s current price.
A number of other equities analysts have also commented on BLDP. Roth Capital set a $3.00 price target on shares of Ballard Power Systems and gave the company a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. BidaskClub lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, FBR & Co set a $4.00 price target on shares of Ballard Power Systems and gave the company a “buy” rating in a research report on Thursday, June 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $3.31.
Ballard Power Systems (NASDAQ:BLDP) opened at 2.91 on Friday. Ballard Power Systems has a one year low of $1.61 and a one year high of $3.48. The company’s market cap is $512.26 million. The firm has a 50-day moving average of $2.90 and a 200-day moving average of $2.53.
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Several institutional investors have recently made changes to their positions in BLDP. KCG Holdings Inc. increased its stake in Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares during the period. Renaissance Technologies LLC increased its stake in Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares during the period. First Trust Advisors LP increased its stake in Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after buying an additional 26,314 shares during the period. Finally, Bluestein R H & Co. increased its stake in Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after buying an additional 25,000 shares during the period. Institutional investors own 2.55% of the company’s stock.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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