Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD)‘s stock had its “sector perform” rating reissued by stock analysts at National Bank of Canada (NA.TO) in a report issued on Thursday, Benzinga reports.
Several other equities research analysts have also recently issued reports on the company. Raymond James raised Ballard Power Systems from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $28.00 to $40.00 in a report on Monday. Zacks Investment Research raised Ballard Power Systems from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a report on Tuesday. TD Securities raised their target price on shares of Ballard Power Systems from $20.00 to $27.00 and gave the company a “speculative buy” rating in a report on Monday, November 30th. BidaskClub upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Saturday, January 9th. Finally, HC Wainwright lowered shares of Ballard Power Systems from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 10th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $25.88.
Shares of BLDP stock opened at $36.58 on Thursday. 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 stock has a fifty day simple moving average of $22.31 and a two-hundred day simple moving average of $17.78. The firm has a market capitalization of $10.23 billion, a PE ratio of -182.88 and a beta of 1.74. Ballard Power Systems has a 52-week low of $6.95 and a 52-week high of $38.00.
Institutional investors have recently made changes to their positions in the company. Mirova bought a new position in shares of Ballard Power Systems in the 3rd quarter worth $39,045,000. Morgan Stanley boosted its holdings in shares of Ballard Power Systems by 4.3% in the 3rd quarter. Morgan Stanley now owns 1,962,472 shares of the technology company’s stock valued at $29,634,000 after buying an additional 80,966 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Ballard Power Systems in the 3rd quarter worth approximately $23,559,000. Allianz Asset Management GmbH raised its stake in shares of Ballard Power Systems by 11.3% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,067,383 shares of the technology company’s stock worth $16,078,000 after acquiring an additional 108,482 shares in the last quarter. Finally, Alps Advisors Inc. lifted its position in Ballard Power Systems by 44.3% during the third quarter. Alps Advisors Inc. now owns 974,716 shares of the technology company’s stock valued at $14,718,000 after acquiring an additional 299,459 shares during the last quarter. Hedge funds and other institutional investors 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.
Recommended Story: What Does Beta Mean In Stock Selection?
Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.