Mitsubishi UFJ Asset Management Co. Ltd. Sells 18,026 Shares of Ballard Power Systems, Inc. (NASDAQ:BLDP)

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,002,775 shares of the technology company’s stock after selling 18,026 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ballard Power Systems were worth $1,103,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in BLDP. Millennium Management LLC raised its holdings in shares of Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after acquiring an additional 1,177,718 shares in the last quarter. Two Sigma Investments LP grew its stake in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after purchasing an additional 661,413 shares during the last quarter. Two Sigma Advisers LP grew its stake in Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock valued at $1,619,000 after purchasing an additional 498,600 shares during the last quarter. XTX Topco Ltd grew its stake in Ballard Power Systems by 494.0% in the fourth quarter. XTX Topco Ltd now owns 523,941 shares of the technology company’s stock valued at $870,000 after purchasing an additional 435,729 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in Ballard Power Systems by 19.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock valued at $2,529,000 after purchasing an additional 252,524 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BLDP. Citigroup reiterated a “sell” rating and issued a $1.00 target price (down previously from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Roth Capital reiterated a “neutral” rating and issued a $1.80 target price (up previously from $1.25) on shares of Ballard Power Systems in a research note on Monday. Susquehanna lifted their target price on Ballard Power Systems from $1.30 to $2.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Lake Street Capital lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Wall Street Zen upgraded Ballard Power Systems to a “sell” rating in a research note on Thursday, May 8th. Five research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $1.51.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.87 on Thursday. The business’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.44. The firm has a market cap of $560.76 million, a P/E ratio of -1.89 and a beta of 1.76. Ballard Power Systems, Inc. has a 52 week low of $1.00 and a 52 week high of $2.28. The company has a quick ratio of 8.13, a current ratio of 9.31 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. On average, sell-side analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

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.