Ballard Power Systems Inc. (NASDAQ:BLDP) Given Average Rating of “Reduce” by Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average recommendation of “Reduce” by the fifteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $2.77.

A number of equities analysts have recently issued reports on the company. Susquehanna dropped their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Raymond James lowered their target price on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 14th. National Bankshares lowered their target price on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered their target price on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th.

Ballard Power Systems Stock Down 0.6 %

Ballard Power Systems stock opened at $1.61 on Friday. The firm has a market cap of $482.07 million, a price-to-earnings ratio of -1.46 and a beta of 1.72. The stock has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $2.00. Ballard Power Systems has a 12 month low of $1.23 and a 12 month high of $4.02. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new stake in Ballard Power Systems during the first quarter worth approximately $39,000. Van ECK Associates Corp increased its position in shares of Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after purchasing an additional 186,833 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Ballard Power Systems by 84.3% during the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock worth $179,000 after purchasing an additional 36,368 shares in the last quarter. Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems during the second quarter worth $450,000. Finally, TD Asset Management Inc increased its position in shares of Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after purchasing an additional 8,154 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

About Ballard Power Systems

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.