Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued on Friday. They presently have a $3.00 price objective on the technology company’s stock. HC Wainwright’s price objective indicates a potential upside of 3.09% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. BidaskClub cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. FBR & Co reissued an “outperform” rating and set a $3.00 price target on shares of Ballard Power Systems in a research report on Friday, April 7th. Zacks Investment Research cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Roth Capital cut shares of Ballard Power Systems from a “buy” rating to a “neutral” rating and set a $3.00 price target on the stock. in a research report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Ballard Power Systems currently has an average rating of “Buy” and an average price target of $3.31.

Ballard Power Systems (NASDAQ BLDP) traded down 2.35% on Friday, reaching $2.91. 1,318,376 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $2.90 and a 200-day moving average of $2.53. The stock’s market cap is $512.26 million. Ballard Power Systems has a one year low of $1.61 and a one year high of $3.48.

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A number of hedge funds have recently modified their holdings of the stock. First Trust Advisors LP boosted its stake in shares of Ballard Power Systems by 16.9% in the second quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the period. KCG Holdings Inc. boosted its stake in shares of Ballard Power Systems by 220.0% in the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after buying an additional 140,603 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Ballard Power Systems by 483.1% in the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after buying an additional 137,200 shares during the period. Finally, Bluestein R H & Co. boosted its stake in shares of Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares during the period. 2.55% of the stock is currently owned by hedge funds and other institutional investors.

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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