Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) reached a new 52-week high on Monday . The company traded as high as $5.36 and last traded at $5.35, with a volume of 3,141,653 shares traded. The stock had previously closed at $5.10.

A number of research firms have recently weighed in on BLDP. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Ballard Power Systems in a research report on Tuesday, September 26th. FBR & Co reaffirmed a “buy” rating and set a $6.00 price target (up previously from $3.50) on shares of Ballard Power Systems in a research report on Monday, September 18th. Cowen and Company lifted their price target on Ballard Power Systems from $3.00 to $4.50 and gave the stock a “market perform” rating in a research report on Friday, September 15th. Zacks Investment Research cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Finally, BidaskClub cut Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $4.55.

The stock’s market capitalization is $905.95 million. The company has a 50 day moving average price of $3.92 and a 200 day moving average price of $3.07.

Several institutional investors and hedge funds have recently made changes to their positions in BLDP. Renaissance Technologies LLC increased its stake in shares of Ballard Power Systems by 483.1% during the 1st 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 during the last quarter. KCG Holdings Inc. boosted its holdings in shares of Ballard Power Systems by 220.0% during the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares during the period. First Trust Advisors LP boosted its holdings in shares of Ballard Power Systems by 16.9% during the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after buying an additional 26,314 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Ballard Power Systems during the 2nd quarter worth $105,000. Institutional investors own 2.81% of the company’s stock.

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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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