Tidal Investments LLC Purchases 38,616 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Tidal Investments LLC raised its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 17.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 264,781 shares of the technology company’s stock after buying an additional 38,616 shares during the period. Tidal Investments LLC owned about 0.09% of Ballard Power Systems worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TD Asset Management Inc increased its holdings in Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after acquiring an additional 8,154 shares in the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Ballard Power Systems by 7.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after purchasing an additional 13,639 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of 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 valued at $54,000 after purchasing an additional 14,415 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in shares of Ballard Power Systems in the third quarter worth about $27,000. Finally, XTX Topco Ltd lifted its position in shares of Ballard Power Systems by 29.0% in the third quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after buying an additional 19,856 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLDP shares. Citigroup reduced their target price on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. CIBC cut their price target 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. Hsbc Global Res lowered Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, Susquehanna cut their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $1.62 on Monday. Ballard Power Systems Inc. has a 12-month low of $1.23 and a 12-month high of $3.83. The firm’s fifty day simple moving average is $1.51 and its two-hundred day simple moving average is $1.88. 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 firm has a market capitalization of $485.06 million, a P/E ratio of -1.47 and a beta of 1.72.

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.