Geode Capital Management LLC Buys 146,104 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Geode Capital Management LLC increased its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 51.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 432,805 shares of the technology company’s stock after acquiring an additional 146,104 shares during the quarter. Geode Capital Management LLC’s holdings in Ballard Power Systems were worth $779,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BLDP. First Commonwealth Financial Corp PA bought a new position in shares of Ballard Power Systems during the 3rd quarter valued at about $27,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $52,000. Daiwa Securities Group Inc. grew its position in Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares in the last quarter. MQS Management LLC purchased a new stake in Ballard Power Systems during the second quarter valued at approximately $79,000. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $91,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Down 1.1 %

Shares of NASDAQ:BLDP opened at $1.75 on Friday. The company has a market capitalization of $523.99 million, a PE ratio of -1.59 and a beta of 1.67. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $1.56 and its 200-day simple moving average is $1.80. Ballard Power Systems Inc. has a 12-month low of $1.23 and a 12-month high of $3.66.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup decreased their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Susquehanna lowered 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 report on Wednesday, October 16th. CIBC dropped their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Finally, HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and a consensus 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.