Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) had its target price lifted by Cowen and Company from $3.00 to $4.50 in a research note issued to investors on Friday. The firm presently has a “market perform” rating on the technology company’s stock. Cowen and Company’s price target indicates a potential upside of 1.58% from the company’s current price.

Other equities analysts also recently issued reports about the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price target (up from $3.00) on shares of Ballard Power Systems in a research note on Friday. FBR & Co reissued a “buy” rating on shares of Ballard Power Systems in a research note on Wednesday, September 6th. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price target on the stock in a research note on Tuesday, July 4th. BidaskClub raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Finally, Roth Capital set a $3.00 price target on shares of Ballard Power Systems and gave the stock a “hold” rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $4.15.

Shares of Ballard Power Systems (NASDAQ BLDP) opened at 4.43 on Friday. Ballard Power Systems has a 12-month low of $1.61 and a 12-month high of $5.06. The stock has a 50 day moving average of $3.09 and a 200-day moving average of $2.78. The company’s market capitalization is $781.20 million.

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A number of institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Ballard Power Systems during the second quarter worth about $105,000. First Trust Advisors LP increased its position in Ballard Power Systems by 16.9% during the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after purchasing an additional 26,314 shares during the last quarter. KCG Holdings Inc. increased its position in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after purchasing an additional 140,603 shares during the last quarter. Renaissance Technologies LLC increased its position in Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after purchasing an additional 137,200 shares during the last quarter. Finally, Bluestein R H & Co. increased its position in Ballard Power Systems by 12.5% during the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after purchasing an additional 25,000 shares during the last quarter. Hedge funds and other institutional investors own 2.82% of the company’s stock.

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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