National Bankshares Cuts Ballard Power Systems (NASDAQ:BLDP) Price Target to $2.00

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) had its price objective reduced by equities research analysts at National Bankshares from $2.60 to $2.00 in a report released on Friday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the technology company’s stock. National Bankshares’ price target indicates a potential upside of 55.64% from the stock’s current price.

BLDP has been the topic of several other research reports. Roth Mkm cut their price objective on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research report on Friday. BMO Capital Markets cut their price objective 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. Raymond James dropped their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating on the stock in a research report on Friday. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Finally, HSBC dropped their price target on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research report on Friday. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.31.

Ballard Power Systems Stock Up 0.4 %

Shares of BLDP stock traded up $0.01 during trading on Friday, hitting $1.29. 4,583,443 shares of the company were exchanged, compared to its average volume of 10,245,447. The firm has a market capitalization of $384.78 million, a price-to-earnings ratio of -1.17 and a beta of 1.75. The business’s 50-day simple moving average is $1.44 and its 200 day simple moving average is $1.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems has a twelve month low of $1.08 and a twelve month high of $3.38.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Commonwealth Financial Corp PA bought a new position in Ballard Power Systems during the third quarter worth $27,000. Raymond James Financial Inc. acquired a new stake in Ballard Power Systems during the fourth quarter worth $27,000. Toronto Dominion Bank boosted its stake 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 worth $50,000 after buying an additional 20,949 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the fourth quarter worth $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ballard Power Systems by 35.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after buying an additional 10,767 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

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.