Ballard Power Systems Inc. (BLDP) Given “Outperform” Rating at FBR & Co
Other research analysts have also issued reports about the company. Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a strong-buy rating and set a $2.25 price target for the company in a report on Friday, October 28th. Roth Capital set a $3.00 price target on Ballard Power Systems and gave the stock a buy rating in a report on Thursday, October 27th. Finally, TheStreet upgraded Ballard Power Systems from a sell rating to a hold rating in a report on Friday, August 26th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $2.47.
Shares of Ballard Power Systems (NASDAQ:BLDP) opened at 1.90 on Wednesday. The firm’s market capitalization is $331.87 million. The firm’s 50 day moving average is $2.07 and its 200 day moving average is $1.82. Ballard Power Systems has a 1-year low of $1.11 and a 1-year high of $2.53.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its position in Ballard Power Systems by 80.7% in the third quarter. Bank of Montreal Can now owns 55,074 shares of the company’s stock valued at $121,000 after buying an additional 24,597 shares in the last quarter. Royal Bank of Canada raised its position in Ballard Power Systems by 139.6% in the second quarter. Royal Bank of Canada now owns 98,923 shares of the company’s stock valued at $124,000 after buying an additional 57,634 shares in the last quarter. KCG Holdings Inc. raised its position in Ballard Power Systems by 114.2% in the third quarter. KCG Holdings Inc. now owns 71,666 shares of the company’s stock valued at $158,000 after buying an additional 38,216 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Ballard Power Systems by 8.7% in the third quarter. First Trust Advisors LP now owns 167,485 shares of the company’s stock valued at $370,000 after buying an additional 13,363 shares in the last quarter. Institutional investors and hedge funds own 4.87% of the company’s stock.
Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.
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