National Bank of Canada FI Lowers Stock Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

National Bank of Canada FI cut its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 65.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,055 shares of the technology company’s stock after selling 120,990 shares during the quarter. National Bank of Canada FI’s holdings in Ballard Power Systems were worth $113,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. First Commonwealth Financial Corp PA purchased a new stake in shares of Ballard Power Systems during the 3rd quarter valued at $27,000. Scientech Research LLC purchased a new stake in Ballard Power Systems during the second quarter valued at about $52,000. Daiwa Securities Group Inc. increased its stake in Ballard Power Systems by 149.7% during 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 during the last quarter. MQS Management LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth about $79,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $91,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Trading Down 1.2 %

NASDAQ BLDP opened at $1.60 on Tuesday. The company has a market capitalization of $479.07 million, a price-to-earnings ratio of -1.45 and a beta of 1.72. The company’s fifty day moving average price is $1.53 and its two-hundred day moving average price is $1.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. Ballard Power Systems Inc. has a 12 month low of $1.23 and a 12 month high of $3.83.

Analyst Upgrades and Downgrades

BLDP has been the topic of several research reports. StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. CIBC reduced their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. Susquehanna cut their price objective on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Ballard Power Systems presently has an average 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.