Portolan Capital Management LLC Makes New $2.51 Million Investment in Ballard Power Systems Inc. (NASDAQ:BLDP)

Portolan Capital Management LLC purchased a new position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 1,510,772 shares of the technology company's stock, valued at approximately $2,508,000. Portolan Capital Management LLC owned about 0.50% of Ballard Power Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jane Street Group LLC raised its position in Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company's stock worth $2,008,000 after acquiring an additional 646,219 shares in the last quarter. Van ECK Associates Corp lifted its stake in Ballard Power Systems by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock valued at $4,094,000 after purchasing an additional 644,861 shares during the last quarter. XTX Topco Ltd grew its holdings in Ballard Power Systems by 494.0% during the fourth quarter. XTX Topco Ltd now owns 523,941 shares of the technology company's stock worth $870,000 after purchasing an additional 435,729 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Ballard Power Systems by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company's stock worth $1,695,000 after buying an additional 425,374 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Ballard Power Systems by 5.6% in the fourth quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company's stock valued at $5,973,000 after buying an additional 191,582 shares during the period. Institutional investors own 28.02% of the company's stock.

Analyst Upgrades and Downgrades

BLDP has been the topic of a number of research analyst reports. Raymond James dropped their price target on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company set a $1.00 target price on shares of Ballard Power Systems in a report on Thursday, March 13th. National Bankshares reduced their price objective on Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating for the company in a report on Friday, March 14th. TD Cowen upgraded Ballard Power Systems to a "strong sell" rating in a research note on Monday, January 13th. Finally, UBS Group set a $1.25 price target on Ballard Power Systems in a research note on Friday, March 14th. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $2.08.

Ballard Power Systems Price Performance

Shares of BLDP traded down $0.07 during mid-day trading on Friday, reaching $1.14. The company had a trading volume of 5,761,152 shares, compared to its average volume of 5,439,512. The company's 50 day simple moving average is $1.25 and its 200 day simple moving average is $1.44. The company has a market capitalization of $339.86 million, a price-to-earnings ratio of -1.03 and a beta of 1.84. Ballard Power Systems Inc. has a 1-year low of $1.00 and a 1-year high of $3.34. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01.

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.