Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares rose 6.1% on Wednesday . The stock traded as high as $3.28 and last traded at $3.28. Approximately 1,664,831 shares changed hands during trading, an increase of 75% from the average daily volume of 949,008 shares. The stock had previously closed at $3.09.

BLDP has been the subject of several recent research reports. FBR & Co set a $4.00 price target on Ballard Power Systems and gave the company a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a research report on Tuesday, July 4th. BidaskClub cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Roth Capital set a $3.00 price target on Ballard Power Systems and gave the company a “hold” rating in a research report on Monday, July 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Ballard Power Systems in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $3.25.

The company’s market capitalization is $578.41 million. The firm’s 50-day moving average is $2.88 and its 200 day moving average is $2.69.

Several institutional investors and hedge funds have recently bought and sold shares of BLDP. KCG Holdings Inc. lifted its holdings in shares of Ballard Power Systems by 220.0% in the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after buying an additional 137,200 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $105,000. First Trust Advisors LP lifted its holdings in shares of Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the period. Finally, Bluestein R H & Co. lifted its holdings in shares of Ballard Power Systems by 12.5% in the 1st quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares during the period. 2.82% of the stock is owned by institutional investors and hedge funds.

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Ballard Power Systems Company Profile

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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