Ballard Power Systems (NASDAQ:BLDP) Price Target Cut to $1.25 by Analysts at Roth Mkm

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective cut by Roth Mkm from $1.75 to $1.25 in a report released on Friday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Other analysts have also issued reports about the stock. BMO Capital Markets dropped their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research report on Friday. CIBC dropped their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. Finally, TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Six research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.32 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. The firm’s fifty day moving average price is $1.43 and its two-hundred day moving average price is $1.55. Ballard Power Systems has a 1 year low of $1.08 and a 1 year high of $3.38. The firm has a market capitalization of $395.26 million, a P/E ratio of -1.20 and a beta of 1.75.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently bought and sold shares of the business. Invesco Ltd. increased its position in Ballard Power Systems by 5.6% during the fourth quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock worth $5,973,000 after acquiring an additional 191,582 shares during the period. Millennium Management LLC increased its position in Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock worth $4,404,000 after acquiring an additional 1,177,718 shares during the period. Van ECK Associates Corp increased its position 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 worth $4,094,000 after acquiring an additional 644,861 shares during the period. Two Sigma Investments LP increased its position in Ballard Power Systems by 58.4% during the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock worth $2,977,000 after acquiring an additional 661,413 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its position in Ballard Power Systems by 19.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 252,524 shares during the period. 28.02% of the stock is owned by institutional investors.

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.