Brokerages Set Ballard Power Systems Inc. (TSE:BLDP) Price Target at C$13.03

Ballard Power Systems Inc. (TSE:BLDPGet Rating) has received an average rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$13.03.

Several equities research analysts have issued reports on the stock. Citigroup reaffirmed a “hold” rating and set a C$14.00 target price on shares of Ballard Power Systems in a research note on Wednesday, March 16th. BMO Capital Markets cut shares of Ballard Power Systems to a “hold” rating and set a C$10.00 target price on the stock. in a research note on Monday, February 7th. Raymond James lowered their target price on shares of Ballard Power Systems from C$25.00 to C$14.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 15th. Truist Financial began coverage on shares of Ballard Power Systems in a research report on Monday, May 2nd. They set a “hold” rating and a C$13.00 price target on the stock. Finally, Susquehanna Bancshares reissued a “hold” rating and set a C$11.00 price target on shares of Ballard Power Systems in a research report on Thursday, March 10th.

Shares of TSE BLDP opened at C$10.05 on Friday. The firm has a market cap of C$3.00 billion and a PE ratio of -20.39. The firm has a fifty day moving average of C$13.29 and a 200 day moving average of C$15.32. The company has a debt-to-equity ratio of 1.29, a quick ratio of 14.11 and a current ratio of 14.78. Ballard Power Systems has a one year low of C$9.78 and a one year high of C$24.48.

In related news, Senior Officer Robert Randall Macewen sold 33,079 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of C$14.67, for a total transaction of C$485,326.82. Following the sale, the insider now directly owns 312,680 shares in the company, valued at C$4,587,562.79. Also, Senior Officer Jay Francis Murray sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 18th. The stock was sold at an average price of C$14.70, for a total transaction of C$36,750.00. Following the sale, the insider now owns 5,188 shares in the company, valued at C$76,263.60.

Ballard Power Systems Company Profile (Get Rating)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

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