Ballard Power Systems (NASDAQ:BLDP) Price Target Raised to $1.10 at BMO Capital Markets

Key Points

• BMO Capital Markets raised the price target for Ballard Power Systems from $1.00 to $1.10, maintaining an "underperform" rating, which suggests a potential downside of 36.60% from the stock's previous close.
• Various analyst ratings include upgrades to "hold" from National Bank Financial, while seven analysts rate the stock as a sell, indicating mixed sentiments in the market.
• Ballard Power Systems shares recently traded down 3.6%, with a current market capitalization of $520.27 million and a 52-week trading range between $1.00 and $2.28.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD had its price target upped by equities research analysts at BMO Capital Markets from $1.00 to $1.10 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "underperform" rating on the technology company's stock. BMO Capital Markets' price objective would indicate a potential downside of 36.60% from the stock's previous close.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. Lake Street Capital lowered Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Monday. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Susquehanna boosted their price target on Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, UBS Group lowered their target price on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Seven analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. According to data from MarketBeat, Ballard Power Systems has an average rating of "Hold" and a consensus price target of $2.11.

Ballard Power Systems Trading Down 3.6%

BLDP traded down $0.07 during mid-day trading on Tuesday, reaching $1.74. The stock had a trading volume of 501,127 shares, compared to its average volume of 8,848,188. The stock has a market capitalization of $520.27 million, a P/E ratio of -1.70 and a beta of 1.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.13 and a current ratio of 9.00. The firm's fifty day simple moving average is $1.73 and its two-hundred day simple moving average is $1.44. Ballard Power Systems has a 52 week low of $1.00 and a 52 week high of $2.28.

Institutional Trading of Ballard Power Systems

Large investors have recently bought and sold shares of the business. Two Sigma Investments LP grew its holdings in Ballard Power Systems by 58.4% during the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock worth $2,977,000 after acquiring an additional 661,413 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Ballard Power Systems by 39.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company's stock valued at $440,000 after buying an additional 108,364 shares during the period. Millennium Management LLC grew its stake in shares of Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock valued at $4,404,000 after buying an additional 1,177,718 shares during the period. Public Employees Retirement System of Ohio bought a new position in Ballard Power Systems in the 4th quarter valued at about $150,000. Finally, Raymond James Financial Inc. bought a new position in Ballard Power Systems in the 4th quarter valued at about $27,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.

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