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

Shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD have earned a consensus recommendation of "Reduce" from the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $2.08.

Several analysts recently issued reports on the company. Roth Mkm dropped their target price on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating on the stock in a report on Friday, March 14th. National Bankshares dropped their price objective on Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating on the stock in a research note on Friday, March 14th. Citigroup reissued a "sell" rating and issued a $1.00 target price (down from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a research report on Thursday, March 13th. Finally, Raymond James cut their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating for the company in a research note on Friday, March 14th.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors have recently made changes to their positions in the company. Portolan Capital Management LLC acquired a new stake in Ballard Power Systems during the 4th quarter worth approximately $2,508,000. Millennium Management LLC lifted its holdings in shares of Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock worth $4,404,000 after buying an additional 1,177,718 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after acquiring an additional 661,413 shares during the period. Van ECK Associates Corp grew its stake in shares of Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock valued at $4,094,000 after acquiring an additional 644,861 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company's stock valued at $1,619,000 after acquiring an additional 498,600 shares in the last quarter. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Stock Up 1.6 %

NASDAQ:BLDP traded up $0.02 on Tuesday, hitting $1.25. 3,727,648 shares of the company's stock were exchanged, compared to its average volume of 5,533,135. The firm has a 50-day moving average price of $1.20 and a 200-day moving average price of $1.41. Ballard Power Systems has a 52 week low of $1.00 and a 52 week high of $3.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The company has a market cap of $374.79 million, a P/E ratio of -1.14 and a beta of 1.84.

Ballard Power Systems Company Profile

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.