Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have earned an average rating of “Hold” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $4.88.
A number of research analysts have recently commented on the company. FBR & Co reissued a “buy” rating and set a $6.00 price target (up from $3.50) on shares of Ballard Power Systems in a report on Monday, September 18th. Cowen and Company raised their price target on Ballard Power Systems from $3.00 to $4.50 and gave the company a “market perform” rating in a report on Friday, September 15th. HC Wainwright reissued a “buy” rating and set a $6.00 price target (up from $3.00) on shares of Ballard Power Systems in a report on Friday, September 15th. Zacks Investment Research lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, BidaskClub lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th.
Shares of Ballard Power Systems (BLDP) opened at 4.81 on Friday. Ballard Power Systems has a 12 month low of $1.61 and a 12 month high of $5.06. The stock’s market capitalization is $848.21 million. The firm’s 50 day moving average is $3.19 and its 200 day moving average is $2.83.
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Hedge funds have recently made changes to their positions in the stock. Bluestein R H & Co. boosted its stake in Ballard Power Systems by 12.5% during the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares in the last quarter. KCG Holdings Inc. boosted its stake in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ballard Power Systems during the second quarter valued at about $105,000. First Trust Advisors LP boosted its stake in Ballard Power Systems by 16.9% during the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after buying an additional 137,200 shares in the last quarter. 2.81% of the stock is owned by institutional investors and hedge funds.
Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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