Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) had its price objective decreased by stock analysts at BMO Capital Markets from $1.30 to $1.20 in a report issued on Friday,Benzinga reports. The brokerage presently has an “underperform” rating on the technology company’s stock. BMO Capital Markets’ price objective points to a potential downside of 6.61% from the stock’s current price.
Several other brokerages have also recently commented on BLDP. CIBC decreased their target price on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock 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. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.77.
Check Out Our Latest Stock Report on Ballard Power Systems
Ballard Power Systems Price Performance
Institutional Trading of Ballard Power Systems
Institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC grew its position in Ballard Power Systems by 137.6% during the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock worth $2,008,000 after acquiring an additional 646,219 shares during the last quarter. Geode Capital Management LLC raised its stake in Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock worth $779,000 after acquiring an additional 146,104 shares during the period. Van ECK Associates Corp raised its holdings in Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after acquiring an additional 644,861 shares during the period. XTX Topco Ltd raised its stake in Ballard Power Systems by 29.0% during the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock valued at $159,000 after purchasing an additional 19,856 shares during the period. Finally, Tidal Investments LLC grew its holdings in Ballard Power Systems by 17.1% during the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock valued at $477,000 after buying an additional 38,616 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.
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.
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