Ballard Power Systems, Inc. (BLDP) Stock Price Up -5.6%

Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) rose 5.6% on Thursday . The stock traded as high as $4.75 and last traded at $4.45. Approximately 12,628,580 shares were traded during trading, an increase of 1,175% from the average daily volume of 990,600 shares. The stock had previously closed at $4.72.

BLDP has been the subject of several recent analyst reports. Roth Capital set a $3.00 price objective on Ballard Power Systems and gave the stock a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Tuesday, August 8th. FBR & Co set a $4.00 price objective on Ballard Power Systems and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Cowen and Company set a $3.00 target price on Ballard Power Systems and gave the company a “hold” rating in a research report on Monday, August 14th. Finally, BidaskClub upgraded Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $4.15.

The stock’s market capitalization is $781.20 million. The company’s 50-day moving average is $3.09 and its 200-day moving average is $2.78.

A number of hedge funds have recently modified their holdings of BLDP. Dynamic Technology Lab Private Ltd bought a new stake in Ballard Power Systems during the second quarter worth about $105,000. Renaissance Technologies LLC lifted its stake in shares of Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock valued at $368,000 after acquiring an additional 137,200 shares during the last quarter. KCG Holdings Inc. lifted its stake in shares of Ballard Power Systems by 220.0% in the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock valued at $454,000 after acquiring an additional 140,603 shares during the last quarter. Bluestein R H & Co. lifted its stake in shares of Ballard Power Systems by 12.5% in the 1st quarter. Bluestein R H & Co. now owns 225,000 shares of the technology company’s stock valued at $500,000 after acquiring an additional 25,000 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of 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 acquiring an additional 26,314 shares during the last quarter. 2.82% of the stock is owned by hedge funds and other institutional investors.

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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.

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