Ballard Power Systems, Inc. (NASDAQ:BLDP) Receives Average Rating of “Reduce” from Brokerages

Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) has been given an average recommendation of “Reduce” by the fifteen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $2.33.

BLDP has been the subject of several recent analyst reports. TD Securities raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 target price for the company in a report on Friday, January 9th. KeyCorp reissued a “sector weight” rating on shares of Ballard Power Systems in a research report on Friday, November 14th. Roth Mkm restated a “neutral” rating and issued a $3.00 price objective on shares of Ballard Power Systems in a report on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Finally, Zacks Research lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its holdings in shares of Ballard Power Systems by 104.2% during the 2nd quarter. Legal & General Group Plc now owns 13,133,224 shares of the technology company’s stock valued at $20,977,000 after buying an additional 6,701,756 shares during the period. BNP Paribas Financial Markets increased its position in Ballard Power Systems by 204.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock valued at $10,145,000 after acquiring an additional 2,682,355 shares during the last quarter. Invesco Ltd. lifted its holdings in Ballard Power Systems by 48.6% in the fourth quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock valued at $12,621,000 after acquiring an additional 1,625,542 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Ballard Power Systems by 117.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock valued at $4,327,000 after acquiring an additional 1,467,547 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 0.5%

NASDAQ BLDP opened at $2.11 on Monday. Ballard Power Systems has a 12 month low of $1.00 and a 12 month high of $4.10. The company has a current ratio of 8.33, a quick ratio of 7.53 and a debt-to-equity ratio of 0.03. The stock’s fifty day moving average price is $2.50 and its 200-day moving average price is $2.67. The stock has a market cap of $634.67 million, a P/E ratio of -5.27 and a beta of 1.75.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.