Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 41.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 142,605 shares of the technology company’s stock after selling 99,111 shares during the period. JPMorgan Chase & Co.’s holdings in Ballard Power Systems were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BLDP. Garden State Investment Advisory Services LLC acquired a new stake in Ballard Power Systems during the 3rd quarter worth about $119,000. Tidal Investments LLC lifted its holdings in shares of Ballard Power Systems by 17.1% during the third quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock worth $477,000 after purchasing an additional 38,616 shares during the period. Virtu Financial LLC purchased a new stake in Ballard Power Systems in the third quarter valued at approximately $135,000. Toronto Dominion Bank increased its holdings in Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after buying an additional 20,949 shares during the period. Finally, Geode Capital Management LLC raised its position in 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.

Ballard Power Systems Stock Performance

BLDP opened at $1.36 on Friday. The firm’s fifty day simple moving average is $1.59 and its two-hundred day simple moving average is $1.72. Ballard Power Systems Inc. has a 52-week low of $1.23 and a 52-week high of $3.66. The company has a market cap of $407.24 million, a price-to-earnings ratio of -1.24 and a beta of 1.67. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BLDP. TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Susquehanna decreased their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. CIBC cut their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research report on Wednesday, December 4th. Hsbc Global Res cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, StockNews.com raised Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $2.77.

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.