Ballard Power Systems (NASDAQ:BLDP) Upgraded at TD Securities


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Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) was upgraded by investment analysts at TD Securities from a “hold” rating to a “buy” rating in a report released on Tuesday, The Fly reports.

BLDP has been the subject of several other reports. BMO Capital Markets began coverage on shares of Ballard Power Systems in a research report on Tuesday, January 19th. They set an “outperform” rating and a $39.00 price target for the company. Citigroup began coverage on Ballard Power Systems in a research note on Wednesday, January 20th. They issued a “buy” rating and a $42.00 price target for the company. Raymond James raised Ballard Power Systems from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $28.00 to $40.00 in a report on Monday, January 11th. Piper Sandler assumed coverage on Ballard Power Systems in a research note on Wednesday, January 27th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, CIBC initiated coverage on Ballard Power Systems in a report on Monday, February 1st. They issued a “neutral” rating and a $38.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.83.

Ballard Power Systems stock traded down $1.82 during mid-day trading on Tuesday, hitting $28.48. The company’s stock had a trading volume of 1,084,484 shares, compared to its average volume of 7,500,644. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.36 and a current ratio of 9.10. The company has a 50 day moving average of $33.73 and a 200-day moving average of $21.39. Ballard Power Systems has a one year low of $6.95 and a one year high of $42.28. The stock has a market cap of $8.04 billion, a PE ratio of -142.95 and a beta of 1.74.

Institutional investors have recently bought and sold shares of the company. Reilly Financial Advisors LLC acquired a new stake in Ballard Power Systems in the 4th quarter valued at $29,000. Advisory Services Network LLC raised its position in Ballard Power Systems by 488.6% during the fourth quarter. Advisory Services Network LLC now owns 2,060 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,710 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Ballard Power Systems by 96.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,750 shares of the technology company’s stock valued at $64,000 after purchasing an additional 1,350 shares in the last quarter. Ecofin Advisors Ltd acquired a new stake in shares of Ballard Power Systems in the third quarter valued at about $92,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Ballard Power Systems during the fourth quarter worth about $109,000. Institutional investors and hedge funds own 18.38% 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 fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products.

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The Fly

Analyst Recommendations for Ballard Power Systems (NASDAQ:BLDP)

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