Mirae Asset Global Investments Co. Ltd. Trims Stock Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Mirae Asset Global Investments Co. Ltd. cut its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 4.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 277,279 shares of the technology company’s stock after selling 13,740 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Ballard Power Systems were worth $469,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BLDP. Jane Street Group LLC lifted its position in Ballard Power Systems by 137.6% during the third quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after purchasing an additional 646,219 shares during the last quarter. Penserra Capital Management LLC lifted its position in Ballard Power Systems by 52.6% during the third quarter. Penserra Capital Management LLC now owns 959,941 shares of the technology company’s stock valued at $1,727,000 after purchasing an additional 330,815 shares during the last quarter. DRW Securities LLC lifted its position in Ballard Power Systems by 2,097.1% during the third quarter. DRW Securities LLC now owns 333,322 shares of the technology company’s stock valued at $600,000 after purchasing an additional 318,151 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Ballard Power Systems by 79.7% during the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock valued at $786,000 after purchasing an additional 193,658 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Ballard Power Systems by 51.0% in the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock worth $779,000 after acquiring an additional 146,104 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $1.44 on Thursday. The firm’s 50 day moving average price is $1.58 and its 200-day moving average price is $1.65. Ballard Power Systems Inc. has a twelve month low of $1.23 and a twelve month high of $3.38. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $431.19 million, a PE ratio of -1.31 and a beta of 1.69.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BLDP shares. CIBC lowered their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a report on Wednesday, December 4th. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Finally, Susquehanna reduced their target price on shares of 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. Seven research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.77.

About Ballard Power Systems

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.