JPMorgan Chase & Co. Decreases Stake in Ballard Power Systems Inc. (NASDAQ:BLDP)

JPMorgan Chase & Co. lessened its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 41.0% during the 3rd quarter, HoldingsChannel reports. The firm 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 large investors have also modified their holdings of BLDP. Garden State Investment Advisory Services LLC acquired a new position in Ballard Power Systems during the third quarter worth about $119,000. Tidal Investments LLC raised its holdings in Ballard Power Systems by 17.1% in the 3rd quarter. Tidal Investments LLC now owns 264,781 shares of the technology company’s stock valued at $477,000 after acquiring an additional 38,616 shares during the last quarter. Virtu Financial LLC purchased a new position in Ballard Power Systems in the 3rd quarter worth approximately $135,000. Toronto Dominion Bank boosted its holdings in shares of Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock worth $50,000 after purchasing an additional 20,949 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Ballard Power Systems by 51.0% in the third quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after purchasing an additional 146,104 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of recent research reports. Susquehanna lowered their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 16th. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ballard Power Systems currently has an average rating of “Hold” and a consensus price target of $2.77.

Ballard Power Systems Stock Performance

Shares of BLDP stock opened at $1.36 on Friday. The firm has a 50 day moving average of $1.59 and a two-hundred day moving average of $1.72. The stock has a market capitalization of $407.24 million, a PE 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. Ballard Power Systems Inc. has a 52 week low of $1.23 and a 52 week high of $3.66.

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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.