Ballard Power Systems Inc. (NASDAQ:BLDP) Receives Average Recommendation of “Reduce” from Brokerages

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has received an average rating of “Reduce” from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $2.77.

BLDP has been the topic of a number of recent analyst reports. Citigroup reduced their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Susquehanna dropped their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research note on Monday, January 13th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Institutional Investors Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC increased its position in shares of Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 646,219 shares in the last quarter. Penserra Capital Management LLC increased its position in Ballard Power Systems by 52.6% during the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after buying an additional 330,815 shares in the last quarter. DRW Securities LLC raised its stake in Ballard Power Systems by 2,097.1% in the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock valued at $600,000 after buying an additional 318,151 shares during the last quarter. Decade Renewable Partners LP acquired a new stake in Ballard Power Systems in the second quarter worth about $450,000. Finally, BNP Paribas Financial Markets grew its stake in shares of Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock worth $786,000 after acquiring an additional 193,658 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Up 0.7 %

Shares of BLDP opened at $1.41 on Friday. The company’s fifty day simple moving average is $1.58 and its 200-day simple moving average is $1.75. The company has a market cap of $422.21 million, a P/E ratio of -1.28 and a beta of 1.67. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.23 and a twelve month high of $3.66.

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.