Ballard Power Systems (TSE:BLDP) Receives Hold Rating from Wells Fargo & Company

Ballard Power Systems (TSE:BLDP – Get Rating)‘s stock had its “hold” rating restated by equities research analysts at Wells Fargo & Company in a research report issued on Thursday, Stock Target Advisor reports. They presently have a C$9.00 target price on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 6.89% from the stock’s current price.

A number of other brokerages have also recently weighed in on BLDP. Eight Capital reduced their target price on Ballard Power Systems from C$18.00 to C$12.00 and set a “neutral” rating on the stock in a report on Wednesday, March 16th. BMO Capital Markets lowered shares of Ballard Power Systems to a “hold” rating and set a C$10.00 target price on the stock. in a report on Monday, February 7th. B. Riley reduced their price target on Ballard Power Systems to C$12.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna Bancshares reiterated a “hold” rating and set a C$11.00 price objective on shares of Ballard Power Systems in a research note on Thursday, March 10th. Finally, Truist Financial began coverage on shares of Ballard Power Systems in a research report on Monday, May 2nd. They issued a “hold” rating and a C$13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and a consensus price target of C$12.61.

TSE:BLDP traded up C$0.55 during trading hours on Thursday, reaching C$8.42. 984,261 shares of the company were exchanged, compared to its average volume of 1,333,141. The firm has a market cap of C$2.51 billion and a price-to-earnings ratio of -16.73. The stock has a 50 day simple moving average of C$12.98 and a 200 day simple moving average of C$15.15. Ballard Power Systems has a 52-week low of C$7.55 and a 52-week high of C$24.48. The company has a debt-to-equity ratio of 1.29, a current ratio of 14.78 and a quick ratio of 14.11.

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

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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