Other research analysts also recently issued reports about the company. Zacks Investment Research upgraded Ballard Power Systems from a hold rating to a buy rating and set a $3.50 price objective for the company in a research note on Wednesday, August 8th. BidaskClub raised Ballard Power Systems from a sell rating to a hold rating in a research note on Friday, August 3rd. HC Wainwright set a $6.00 price target on Ballard Power Systems and gave the stock a buy rating in a research note on Wednesday, September 19th. Finally, B. Riley set a $5.00 price target on Ballard Power Systems and gave the stock a buy rating in a research note on Tuesday, September 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $4.75.
BLDP traded down $0.06 during trading on Thursday, reaching $3.64. 1,055,875 shares of the company were exchanged, compared to its average volume of 1,283,950. The company has a market cap of $768.87 million, a P/E ratio of -121.33 and a beta of 1.60. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.64 and a quick ratio of 1.83. Ballard Power Systems has a 52 week low of $2.57 and a 52 week high of $5.93.
Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in shares of Ballard Power Systems by 38.8% in the first quarter. Royal Bank of Canada now owns 140,805 shares of the technology company’s stock worth $500,000 after purchasing an additional 39,370 shares in the last quarter. Herald Investment Management Ltd lifted its holdings in shares of Ballard Power Systems by 102.5% in the second quarter. Herald Investment Management Ltd now owns 640,000 shares of the technology company’s stock valued at $1,817,000 after buying an additional 324,000 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Ballard Power Systems by 49.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 92,640 shares of the technology company’s stock valued at $264,000 after buying an additional 30,694 shares during the period. Finally, Global X Management Co LLC acquired a new stake in shares of Ballard Power Systems in the second quarter valued at $231,000. 3.78% of the stock is owned by institutional investors.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.
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