Brokerages Set Ballard Power Systems, Inc. (NASDAQ:BLDP) PT at $2.33

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has received a consensus rating of “Reduce” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $2.33.

BLDP has been the subject of several analyst reports. TD Cowen raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, January 9th. KeyCorp reiterated a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, January 21st. Zacks Research lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 12th. Finally, Roth Mkm reiterated a “neutral” rating and set a $3.00 price target on shares of Ballard Power Systems in a research report on Friday, November 14th.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Ballard Power Systems by 29.1% during the 1st quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock worth $761,000 after purchasing an additional 156,014 shares during the last quarter. Amundi boosted its position in shares of Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after acquiring an additional 9,454 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the period. Jane Street Group LLC boosted its holdings in shares of Ballard Power Systems by 56.2% in the 1st quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock valued at $1,635,000 after purchasing an additional 534,834 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ballard Power Systems by 21.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,459 shares of the technology company’s stock worth $48,000 after buying an additional 5,482 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $2.14 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 8.33 and a quick ratio of 7.53. The firm has a market cap of $643.69 million, a price-to-earnings ratio of -5.35 and a beta of 1.78. The firm’s fifty day moving average price is $2.45 and its 200 day moving average price is $2.68. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $4.10.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.