Ballard Power Systems, Inc. (BLDP) Rating Reiterated by FBR & Co
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “buy” rating reaffirmed by investment analysts at FBR & Co in a research note issued on Friday. They presently have a $6.00 target price on the technology company’s stock. FBR & Co’s target price would indicate a potential upside of 22.70% from the stock’s current price.
BLDP has been the subject of a number of other research reports. Cowen and Company upped 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 downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Monday, July 17th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective (up previously from $3.00) on shares of Ballard Power Systems in a report on Friday, September 15th. Finally, BidaskClub downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $4.55.
Ballard Power Systems (BLDP) traded up 2.30% during mid-day trading on Friday, hitting $4.89. 968,567 shares of the company traded hands. Ballard Power Systems has a one year low of $1.61 and a one year high of $5.50. The company’s market capitalization is $862.32 million. The company’s 50-day moving average price is $4.67 and its 200 day moving average price is $3.33.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in shares of 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 valued at $528,000 after buying an additional 26,314 shares during the last quarter. KCG Holdings Inc. boosted its holdings in shares of Ballard Power Systems by 220.0% in the 1st 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 last quarter. First Manhattan Co. acquired a new stake in shares of Ballard Power Systems in the 3rd quarter valued at approximately $126,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $105,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Ballard Power Systems by 483.1% in the 1st 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 last quarter. 2.81% of the stock is owned by 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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