Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Acquired by XTX Topco Ltd

XTX Topco Ltd increased its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 29.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 88,212 shares of the technology company’s stock after purchasing an additional 19,856 shares during the period. XTX Topco Ltd’s holdings in Ballard Power Systems were worth $159,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BLDP. Van ECK Associates Corp increased its position in Ballard Power Systems by 8.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after purchasing an additional 186,833 shares during the period. SG Americas Securities LLC grew its holdings in Ballard Power Systems by 84.3% during the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock worth $179,000 after acquiring an additional 36,368 shares during the period. Decade Renewable Partners LP purchased a new position in Ballard Power Systems in the second quarter worth $450,000. TD Asset Management Inc lifted its holdings in Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after acquiring an additional 8,154 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Ballard Power Systems during the 2nd quarter worth $91,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.62 on Friday. The company has a market capitalization of $485.06 million, a price-to-earnings ratio of -1.47 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. Ballard Power Systems Inc. has a 1 year low of $1.23 and a 1 year high of $3.83. The company’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $1.90.

Analyst Ratings Changes

Several analysts recently commented on the stock. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. StockNews.com raised Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. CIBC decreased their target price 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. Finally, Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average target price of $2.77.

About Ballard Power Systems

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.