Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by investment analysts at National Bank Financial from a "sector perform spec overwgt" rating to an "outperform spec overweight" rating in a research report issued on Tuesday.
Several other equities research analysts have also commented on the stock. National Bank of Canada (NA.TO) reaffirmed a "sector perform" rating on shares of Ballard Power Systems in a research report on Thursday, January 14th. Citigroup began coverage on shares of Ballard Power Systems in a research report on Wednesday, January 20th. They set a "buy" rating and a $42.00 price target for the company. TD Securities raised shares of Ballard Power Systems from a "hold" rating to a "buy" rating and set a $40.00 price target for the company in a research report on Tuesday. BMO Capital Markets began coverage on shares of Ballard Power Systems in a research report on Tuesday, January 19th. They set an "outperform" rating and a $39.00 price target for the company. Finally, Raymond James set a $40.00 price target on shares of Ballard Power Systems and gave the company a "strong-buy" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of "Buy" and a consensus price target of $32.83.
Shares of NASDAQ:BLDP opened at $30.13 on Tuesday. Ballard Power Systems has a fifty-two week low of $6.95 and a fifty-two week high of $42.28. The business has a 50-day simple moving average of $34.02 and a two-hundred day simple moving average of $21.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.36 and a current ratio of 9.10. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of -150.65 and a beta of 1.74.
Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. Reilly Financial Advisors LLC bought a new stake in Ballard Power Systems in the fourth quarter worth $29,000. Advisory Services Network LLC lifted its position in Ballard Power Systems by 488.6% in the fourth quarter. Advisory Services Network LLC now owns 2,060 shares of the technology company's stock worth $48,000 after buying an additional 1,710 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Ballard Power Systems by 96.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,750 shares of the technology company's stock worth $64,000 after buying an additional 1,350 shares during the last quarter. Ecofin Advisors Ltd bought a new stake in Ballard Power Systems in the third quarter worth $92,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in Ballard Power Systems in the fourth quarter worth $109,000. Hedge funds and other institutional investors own 18.38% of the company's stock.
Ballard Power Systems Company Profile
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products.
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