Arete Wealth Advisors LLC acquired a new stake in Ballard Power Systems Inc. (NASDAQ:BLDP – Free Report) (TSE:BLD) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 13,580 shares of the technology company’s stock, valued at approximately $75,641,000,000.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Ballard Power Systems during the 4th quarter worth about $17,983,000. Millennium Management LLC raised its stake in shares of Ballard Power Systems by 580.6% during the second quarter. Millennium Management LLC now owns 3,352,040 shares of the technology company’s stock valued at $21,140,000 after acquiring an additional 2,859,528 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Ballard Power Systems in the first quarter worth $25,988,000. Legal & General Group Plc grew its holdings in shares of Ballard Power Systems by 31.3% during 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 buying an additional 1,014,539 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Ballard Power Systems by 38.4% during the first quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock valued at $37,855,000 after acquiring an additional 902,351 shares in the last quarter. 23.55% of the stock is owned by institutional investors.
Ballard Power Systems Trading Down 0.2 %
Shares of Ballard Power Systems stock opened at $4.61 on Tuesday. Ballard Power Systems Inc. has a 12 month low of $3.97 and a 12 month high of $9.28. The company has a quick ratio of 13.31, a current ratio of 14.24 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $4.45 and its 200 day simple moving average is $5.09.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on BLDP shares. B. Riley lowered shares of Ballard Power Systems from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $6.00 to $5.00 in a report on Tuesday, June 27th. TD Securities raised their target price on shares of Ballard Power Systems from $5.00 to $5.50 and gave the company a “hold” rating in a report on Wednesday, June 14th. Citigroup initiated coverage on shares of Ballard Power Systems in a report on Wednesday, July 5th. They issued a “neutral” rating on the stock. Scotiabank cut their price objective on Ballard Power Systems from $6.75 to $6.00 in a research report on Thursday, June 15th. Finally, BMO Capital Markets downgraded Ballard Power Systems from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $4.50 to $4.25 in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.80.
Ballard Power Systems 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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and power generation.
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