Cowen and Company Reaffirms Hold Rating for Ballard Power Systems, Inc. (NASDAQ:BLDP)

Cowen and Company restated their hold rating on shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) in a research report report published on Tuesday, October 17th. Cowen and Company currently has a $4.50 target price on the technology company’s stock.

A number of other brokerages have also recently commented on BLDP. Roth Capital set a $3.00 target price on shares of Ballard Power Systems and gave the company a hold rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Ballard Power Systems from a hold rating to a buy rating and set a $3.25 target price for the company in a research report on Tuesday, August 8th. FBR & Co set a $4.00 price objective on shares of Ballard Power Systems and gave the company a buy rating in a report on Thursday, June 22nd. BidaskClub raised shares of Ballard Power Systems from a hold rating to a buy rating in a report on Friday, July 14th. Finally, HC Wainwright reaffirmed a buy rating and set a $6.00 target price on shares of Ballard Power Systems in a research note on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Ballard Power Systems presently has a consensus rating of Hold and a consensus price target of $4.55.

Ballard Power Systems (BLDP) opened at 4.89 on Tuesday. The firm’s 50 day moving average is $4.67 and its 200 day moving average is $3.33. Ballard Power Systems has a 52-week low of $1.61 and a 52-week high of $5.50. The company’s market cap is $862.32 million.

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A number of hedge funds have recently added to or reduced their stakes in BLDP. KCG Holdings Inc. raised its holdings in Ballard Power Systems by 220.0% during the first quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after purchasing an additional 140,603 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Ballard Power Systems by 483.1% during the first quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after acquiring an additional 137,200 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ballard Power Systems during the second quarter worth approximately $105,000. First Manhattan Co. purchased a new position in shares of Ballard Power Systems during the third quarter worth approximately $126,000. Finally, First Trust Advisors LP grew its position in Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock valued at $528,000 after buying an additional 26,314 shares during the last quarter. 2.81% of the stock is currently owned by institutional investors.

Ballard Power Systems Company Profile

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.

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