Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) shares gapped up before the market opened on Wednesday . The stock had previously closed at $5.55, but opened at $5.38. Ballard Power Systems shares last traded at $5.17, with a volume of 2,490,388 shares changing hands.

BLDP has been the subject of a number of research reports. FBR & Co set a $4.00 target price on shares of Ballard Power Systems and gave the company a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research report on Tuesday, July 4th. BidaskClub downgraded shares of 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 target price on shares of Ballard Power Systems and gave the company a “hold” rating in a research report on Monday, July 31st. Finally, HC Wainwright restated a “buy” rating and set a $3.00 target price 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 issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $4.55.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Ballard Power Systems during the 2nd quarter worth $105,000. Renaissance Technologies LLC boosted its stake in Ballard Power Systems by 483.1% during the 1st 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 period. KCG Holdings Inc. boosted its stake in Ballard Power Systems by 220.0% during the 1st 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 period. Finally, First Trust Advisors LP boosted its stake in Ballard Power Systems by 16.9% during the 2nd 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 period. 2.81% of the stock is currently owned by hedge funds and other institutional investors.

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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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