Amundi Sells 1,028,875 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Amundi cut its position in Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 94.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,686 shares of the technology company's stock after selling 1,028,875 shares during the period. Amundi's holdings in Ballard Power Systems were worth $104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of BLDP. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock worth $68,000 after purchasing an additional 10,767 shares during the period. First Commonwealth Financial Corp PA purchased a new position in Ballard Power Systems during the third quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in Ballard Power Systems in the 4th quarter valued at $27,000. XTX Topco Ltd lifted its stake in Ballard Power Systems by 29.0% in the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company's stock worth $159,000 after purchasing an additional 19,856 shares in the last quarter. Finally, Toronto Dominion Bank boosted its holdings in shares of Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company's stock valued at $50,000 after purchasing an additional 20,949 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. CIBC reduced their target price on Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating on the stock in a report on Wednesday, December 4th. Raymond James reduced their price objective 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. TD Cowen upgraded Ballard Power Systems to a "strong sell" rating in a research report on Monday, January 13th. National Bankshares reduced their price target on shares of Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating on the stock in a research report on Friday, March 14th. Finally, BMO Capital Markets lowered their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating for the company in a research report on Friday, March 14th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Ballard Power Systems presently has an average rating of "Hold" and an average target price of $2.13.

Ballard Power Systems Trading Down 3.9 %

Shares of BLDP stock traded down $0.05 on Wednesday, reaching $1.23. 11,879,834 shares of the company's stock were exchanged, compared to its average volume of 4,962,268. The company's fifty day simple moving average is $1.37 and its 200 day simple moving average is $1.53. Ballard Power Systems Inc. has a 52 week low of $1.08 and a 52 week high of $3.38. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $368.31 million, a PE ratio of -1.12 and a beta of 1.75.

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.