Ballard Power Systems Inc. (NASDAQ:BLDP) Given Consensus Recommendation of “Reduce” by Analysts

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) has been assigned an average recommendation of “Reduce” from the sixteen ratings firms that are presently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $2.77.

Several research analysts have recently weighed in on BLDP shares. TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. CIBC reduced their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research report on Wednesday, December 4th. Susquehanna dropped their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Ballard Power Systems Price Performance

BLDP opened at $1.46 on Friday. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a twelve month low of $1.23 and a twelve month high of $3.66. The company has a fifty day moving average of $1.59 and a 200-day moving average of $1.74.

Hedge Funds Weigh In On Ballard Power Systems

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC boosted its holdings in Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after purchasing an additional 646,219 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of Ballard Power Systems by 52.6% in the 3rd quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock worth $1,727,000 after buying an additional 330,815 shares during the last quarter. DRW Securities LLC grew its holdings in shares of Ballard Power Systems by 2,097.1% in the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock valued at $600,000 after acquiring an additional 318,151 shares in the last quarter. Decade Renewable Partners LP bought a new position in shares of Ballard Power Systems in the second quarter valued at approximately $450,000. Finally, BNP Paribas Financial Markets increased its position in shares of 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 valued at $786,000 after acquiring an additional 193,658 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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.