Van ECK Associates Corp Decreases Stock Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

Van ECK Associates Corp trimmed its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDPFree Report) (TSE:BLD) by 1.8% during the 3rd quarter, Holdings Channel reports. The fund owned 1,810,769 shares of the technology company’s stock after selling 33,810 shares during the quarter. Van ECK Associates Corp’s holdings in Ballard Power Systems were worth $6,646,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Ballard Power Systems by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,604,637 shares of the technology company’s stock valued at $52,660,000 after purchasing an additional 237,435 shares during the period. Legal & General Group Plc lifted its position in shares of Ballard Power Systems by 31.3% in the fourth quarter. Legal & General Group Plc now owns 4,253,396 shares of the technology company’s stock valued at $20,342,000 after acquiring an additional 1,014,539 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ballard Power Systems by 27.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after acquiring an additional 849,311 shares in the last quarter. Norges Bank purchased a new position in shares of Ballard Power Systems in the fourth quarter valued at approximately $17,983,000. Finally, Morgan Stanley lifted its position in shares of Ballard Power Systems by 20.9% in the fourth quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after acquiring an additional 638,824 shares in the last quarter. 23.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BLDP. HSBC upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a research report on Tuesday, October 24th. Susquehanna decreased their target price on Ballard Power Systems from $5.00 to $4.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. TD Securities decreased their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. National Bankshares decreased their target price on Ballard Power Systems from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 8th. Finally, Jefferies Financial Group reduced their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $4.25.

Get Our Latest Report on BLDP

Ballard Power Systems Stock Up 2.5 %

NASDAQ:BLDP opened at $3.23 on Friday. The stock has a 50-day simple moving average of $3.48 and a 200-day simple moving average of $3.73. Ballard Power Systems Inc. has a 1 year low of $2.91 and a 1 year high of $6.51. The company has a quick ratio of 11.59, a current ratio of 12.57 and a debt-to-equity ratio of 0.01.

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and power generation.

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Institutional Ownership by Quarter for Ballard Power Systems (NASDAQ:BLDP)

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