Ballard Power Systems (NASDAQ:BLDP) Given New $2.00 Price Target at Raymond James

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its target price cut by Raymond James from $2.50 to $2.00 in a research report sent to investors on Friday morning,BayStreet.CA reports. They currently have a market perform rating on the technology company’s stock.

Several other brokerages have also commented on BLDP. CIBC cut their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. BMO Capital Markets cut their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a report on Friday. Finally, Roth Mkm cut their price target on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Friday. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems currently has an average rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.32 on Friday. The firm has a market cap of $395.26 million, a PE ratio of -1.20 and a beta of 1.75. The firm has a fifty day moving average of $1.43 and a 200 day moving average of $1.55. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a one year low of $1.08 and a one year high of $3.38.

Institutional Investors Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently bought and sold shares of BLDP. Banque Cantonale Vaudoise increased its position in Ballard Power Systems by 7.7% during the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock worth $343,000 after purchasing an additional 13,639 shares during the last quarter. Penserra Capital Management LLC increased its position in Ballard Power Systems by 52.6% during the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock worth $1,727,000 after purchasing an additional 330,815 shares during the last quarter. DRW Securities LLC increased its position in Ballard Power Systems by 2,097.1% during the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock worth $600,000 after purchasing an additional 318,151 shares during the last quarter. BNP Paribas Financial Markets increased its position in 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 purchasing an additional 193,658 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Ballard Power Systems by 8.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 344,589 shares of the technology company’s stock worth $620,000 after purchasing an additional 27,787 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

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.