Downgrades Buy Hold X

BLDP Ballard Power

HSBC Securities

Downgrades Hold Sell X

BLDP Ballard Power

TD Securities

Upgrades Hold Buy X

BLDP Ballard Power

HSBC Securities

$4.50

Initiated Neutral X

BLDP Ballard Power

Citigroup

Downgrades Buy Neutral X

BLDP Ballard Power

B. Riley Securities

$6 $5

Downgrades Mkt Perform Underperform X

BLDP Ballard Power

BMO Capital Markets

$4.50 $4.25

Initiated Sector Perform X

BLDP Ballard Power

Scotiabank

$7.25

Downgrades Eq Weight Underweight X

BLDP Ballard Power

Wells Fargo

Initiated Market Perform X

BLDP Ballard Power

BMO Capital Markets

$5.50

Downgrades Outperform Sec Perform X

BLDP Ballard Power

National Bank Financial

Downgrades Speculative Buy Hold X

BLDP Ballard Power

TD Securities

$11 $6.50

Initiated Hold X

BLDP Ballard Power

Jefferies

$6

Downgrades Outperform Mkt Perform X

BLDP Ballard Power

Raymond James

Resumed Underweight X

BLDP Ballard Power

Piper Sandler

$5

Resumed Sector Weight X

BLDP Ballard Power

KeyBanc Capital Markets

Resumed Hold X

BLDP Ballard Power

Truist

$13

Downgrades Outperform Mkt Perform X

BLDP Ballard Power

BMO Capital Markets

$23 $10

Initiated Neutral X

BLDP Ballard Power

Susquehanna

$10

Initiated Sector Weight X

BLDP Ballard Power

KeyBanc Capital Markets

Downgrades Buy Neutral X

BLDP Ballard Power

Citigroup

$19

Initiated Neutral X

BLDP Ballard Power

SMBC Nikko

$20

Initiated Hold X

BLDP Ballard Power

Truist

$18

Downgrades Buy Neutral X

BLDP Ballard Power

ROTH Capital

Initiated Equal Weight X

BLDP Ballard Power

Wells Fargo

$26

Initiated Buy X

BLDP Ballard Power

B. Riley Securities

$30

Initiated Neutral X

BLDP Ballard Power

Northcoast

Initiated Neutral X

BLDP Ballard Power

CIBC

$38

Initiated Neutral X

BLDP Ballard Power

Piper Sandler

$31

Initiated Buy X

BLDP Ballard Power

Citigroup

$42

Initiated Outperform X

BLDP Ballard Power

BMO Capital Markets

$39

Downgrades Outperform Sec Perform X

BLDP Ballard Power

National Bank Financial

Downgrades Speculative Buy Hold X

BLDP Ballard Power

TD Securities

Upgrades Outperform Strong Buy X

BLDP Ballard Power

Raymond James

$40

Downgrades Neutral Sell X

BLDP Ballard Power

ROTH Capital

BLDP  Ballard Power Systems, Inc.

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. As of December 31, 2016, the Company provided products in four product classes, such as Fuel cell stacks, Fuel cell modules, Fuel cell systems and Power management systems. The Company provides FCgen and FCveloCity fuel cell stacks to original equipment manufacturer (OEM) customers and system integrators that use the stacks to produce fuel cell systems for power solutions.