Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) had its price objective dropped by investment analysts at Citigroup from $2.00 to $1.50 in a research note issued on Tuesday,BayStreet.CA reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 14.07% from the company’s previous close.
A number of other equities analysts also recently weighed in on the company. BMO Capital Markets dropped their target price on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a report on Friday. HSBC dropped their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a research note on Friday. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a research note on Thursday. Roth Mkm cut their price objective on Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a report on Friday. Finally, TD Cowen raised Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Six investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $2.13.
View Our Latest Research Report on BLDP
Ballard Power Systems Stock Down 2.6 %
Institutional Trading of Ballard Power Systems
Several hedge funds have recently added to or reduced their stakes in BLDP. First Commonwealth Financial Corp PA bought a new stake in shares of Ballard Power Systems in the third quarter valued at approximately $27,000. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems during the fourth quarter valued at about $27,000. Toronto Dominion Bank lifted its stake in shares of Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after buying an additional 20,949 shares during the period. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the fourth quarter worth about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Ballard Power Systems by 35.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after acquiring an additional 10,767 shares during the period. Institutional investors own 28.02% 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 (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.
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