Ballard Power Systems, Inc. (BLDP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) have received a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $4.88.

A number of brokerages have recently commented on BLDP. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 target price on shares of Ballard Power Systems in a report on Tuesday. FBR & Co reaffirmed a “buy” rating and issued a $6.00 target price (up from $3.50) on shares of Ballard Power Systems in a report on Monday, September 18th. Cowen and Company upped their target price on shares of Ballard Power Systems from $3.00 to $4.50 and gave the company a “market perform” rating in a report on Friday, September 15th. Zacks Investment Research cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, BidaskClub cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th.

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Ballard Power Systems (NASDAQ BLDP) traded down 6.58% during trading on Friday, hitting $4.54. The company’s stock had a trading volume of 5,271,119 shares. Ballard Power Systems has a one year low of $1.61 and a one year high of $5.06. The firm’s market cap is $800.60 million. The company has a 50-day moving average of $3.19 and a 200 day moving average of $2.83.

Large investors have recently made changes to their positions in the company. Bluestein R H & Co. raised its holdings in Ballard Power Systems by 12.5% during the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after purchasing an additional 25,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after purchasing an additional 137,200 shares in the last quarter. KCG Holdings Inc. raised its holdings in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after purchasing an additional 140,603 shares in the last quarter. First Trust Advisors LP raised its holdings in Ballard Power Systems by 16.9% during the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after purchasing an additional 26,314 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Ballard Power Systems during the second quarter worth about $105,000. 2.81% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Company Profile

Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.

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