Ballard Power Systems (NASDAQ:BLDP) Shares Gap Up – What’s Next?

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) gapped up before the market opened on Monday . The stock had previously closed at $1.92, but opened at $2.04. Ballard Power Systems shares last traded at $1.98, with a volume of 1,134,258 shares.

Analysts Set New Price Targets

BLDP has been the subject of several research reports. CIBC dropped their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. StockNews.com raised Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Susquehanna decreased their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Six 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. According to MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and an average target price of $2.77.

Ballard Power Systems Trading Down 11.1 %

The company has a market cap of $529.98 million, a P/E ratio of -1.61 and a beta of 1.67. The firm’s 50 day moving average is $1.55 and its two-hundred day moving average is $1.80. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in BLDP. First Commonwealth Financial Corp PA acquired a new position in shares of Ballard Power Systems in the 3rd quarter worth approximately $27,000. Toronto Dominion Bank boosted its position in Ballard Power Systems by 300.0% during the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares during the last quarter. Scientech Research LLC acquired a new stake in Ballard Power Systems during the 2nd quarter worth about $52,000. Daiwa Securities Group Inc. raised its position in shares of Ballard Power Systems by 149.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $79,000. 28.02% of the stock is owned by institutional investors and hedge funds.

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.