Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 71.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,801 shares of the technology company's stock after purchasing an additional 425,374 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.34% of Ballard Power Systems worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jane Street Group LLC raised its holdings in shares of Ballard Power Systems by 137.6% during the 3rd 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 during the period. Van ECK Associates Corp raised its stake in Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company's stock worth $4,094,000 after purchasing an additional 644,861 shares during the period. BNP Paribas Financial Markets boosted its holdings in Ballard Power Systems by 79.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company's stock valued at $786,000 after purchasing an additional 193,658 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $310,000. Finally, Geode Capital Management LLC increased its holdings in shares of Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company's stock worth $779,000 after buying an additional 146,104 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a research report on Thursday, March 13th. Roth Mkm cut their price objective on Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a research report on Friday, March 14th. BMO Capital Markets reduced their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a report on Friday, March 14th. National Bankshares lowered their target price on shares of Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating for the company in a research note on Friday, March 14th. Finally, UBS Group set a $1.25 price target on shares of Ballard Power Systems in a research note on Friday, March 14th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, Ballard Power Systems has a consensus rating of "Hold" and a consensus target price of $2.13.
Check Out Our Latest Stock Analysis on Ballard Power Systems
Ballard Power Systems Stock Down 0.9 %
Ballard Power Systems stock traded down $0.01 during mid-day trading on Friday, hitting $1.08. The company had a trading volume of 17,743,233 shares, compared to its average volume of 5,136,518. The stock has a market cap of $323.39 million, a price-to-earnings ratio of -0.98 and a beta of 1.84. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. Ballard Power Systems Inc. has a 1 year low of $1.01 and a 1 year high of $3.38. The business has a fifty day moving average of $1.30 and a 200 day moving average of $1.49.
Ballard Power Systems Profile
(
Free Report)
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.
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