ETF Managers Group LLC acquired a new position in Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 92,847 shares of the technology company’s stock, valued at approximately $222,000. ETF Managers Group LLC owned approximately 0.05% of Ballard Power Systems as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. HRT Financial LLC purchased a new stake in shares of Ballard Power Systems in the third quarter worth $132,000. Virtu Financial LLC raised its position in shares of Ballard Power Systems by 324.2% in the third quarter. Virtu Financial LLC now owns 46,846 shares of the technology company’s stock worth $231,000 after buying an additional 35,802 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Ballard Power Systems in the third quarter worth $174,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Ballard Power Systems in the third quarter worth $215,000. Finally, Alps Advisors Inc. raised its position in shares of Ballard Power Systems by 377.6% in the third quarter. Alps Advisors Inc. now owns 72,775 shares of the technology company’s stock worth $313,000 after buying an additional 57,537 shares in the last quarter. Institutional investors own 3.23% of the company’s stock.
A number of brokerages recently issued reports on BLDP. Zacks Investment Research downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 31st. HC Wainwright set a $6.00 target price on Ballard Power Systems and gave the company a “buy” rating in a research note on Thursday, October 25th. BidaskClub raised Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. B. Riley cut Ballard Power Systems from a “buy” rating to a “hold” rating and reduced their target price for the company from $5.00 to $3.00 in a research note on Friday, November 2nd. Finally, ValuEngine cut Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Ballard Power Systems currently has an average rating of “Hold” and a consensus target price of $3.45.
BLDP opened at $3.19 on Monday. The company has a quick ratio of 1.62, a current ratio of 2.52 and a debt-to-equity ratio of 0.05. Ballard Power Systems Inc has a 52 week low of $2.25 and a 52 week high of $4.62.
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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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.
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