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Ballard Power Systems, Inc. (NASDAQ:BLDP) Raised to Buy at BidaskClub
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BLDP has been the subject of a number of other reports. Zacks Investment Research cut Ballard Power Systems from a buy rating to a hold rating in a research report on Tuesday, March 21st. FBR & Co upped their price objective on Ballard Power Systems from $3.00 to $3.50 and gave the company an outperform rating in a research note on Wednesday, May 3rd. Finally, Roth Capital downgraded Ballard Power Systems from a buy rating to a neutral rating and set a $3.00 price objective for the company. in a research note on Thursday, May 4th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $3.31.
Shares of Ballard Power Systems (NASDAQ BLDP) traded down 2.16% during midday trading on Friday, reaching $2.72. The company’s stock had a trading volume of 1,555,886 shares. The stock’s 50-day moving average price is $2.89 and its 200-day moving average price is $2.57. Ballard Power Systems has a 12-month low of $1.61 and a 12-month high of $3.48. The company’s market cap is $479.66 million.
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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Trust Advisors LP boosted its position in shares of Ballard Power Systems by 16.9% in the second 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 during the last quarter. KCG Holdings Inc. raised its position in Ballard Power Systems by 220.0% in the first 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 period. Renaissance Technologies LLC raised its position in Ballard Power Systems by 483.1% in the first 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 period. Finally, Bluestein R H & Co. raised its position in Ballard Power Systems by 12.5% in the first quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after buying an additional 25,000 shares during the period. Hedge funds and other institutional investors own 2.57% of the company’s stock.
About Ballard Power Systems
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.