Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) had its price target boosted by analysts at Cowen and Company from $3.00 to $4.50 in a research note issued to investors on Friday. Cowen and Company’s target price suggests a potential upside of 1.58% from the company’s previous close.

A number of other research firms have also commented on BLDP. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective (up previously from $3.00) on shares of Ballard Power Systems in a research note on Friday. FBR & Co reaffirmed a “buy” rating on shares of Ballard Power Systems in a research note on Wednesday, September 6th. Roth Capital set a $3.00 price objective on shares of Ballard Power Systems and gave the stock a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research note on Tuesday, August 8th. Finally, BidaskClub raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Ballard Power Systems has a consensus rating of “Hold” and an average price target of $4.15.

Shares of Ballard Power Systems (NASDAQ BLDP) traded up 3.26% on Friday, reaching $4.43. The company’s stock had a trading volume of 7,520,300 shares. The stock has a 50-day moving average of $3.05 and a 200 day moving average of $2.76. The stock’s market capitalization is $781.20 million. Ballard Power Systems has a 1-year low of $1.61 and a 1-year high of $5.06.

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Hedge funds have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Ballard Power Systems in the 2nd quarter worth approximately $105,000. Renaissance Technologies LLC lifted its position in Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares in the last quarter. KCG Holdings Inc. lifted its position in Ballard Power Systems by 220.0% in 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 in the last quarter. Bluestein R H & Co. lifted its position in Ballard Power Systems by 12.5% in the 1st quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock worth $500,000 after buying an additional 25,000 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Ballard Power Systems by 16.9% in 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 in the last quarter. Institutional investors own 2.82% 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 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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