Alberta Investment Management Corp Acquires New Stake in Ballard Power Systems Inc. (NASDAQ:BLDP)

Alberta Investment Management Corp acquired a new stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 186,500 shares of the technology company’s stock, valued at approximately $310,000.

A number of other large investors have also made changes to their positions in BLDP. Harel Insurance Investments & Financial Services Ltd. raised its holdings in shares of Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares during the period. Banque Cantonale Vaudoise raised its holdings in shares of Ballard Power Systems by 7.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock worth $343,000 after purchasing an additional 13,639 shares during the period. First Commonwealth Financial Corp PA purchased a new position in shares of Ballard Power Systems in the 3rd quarter worth about $27,000. XTX Topco Ltd raised its holdings in shares of Ballard Power Systems by 29.0% in the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after purchasing an additional 19,856 shares during the period. Finally, Toronto Dominion Bank raised its holdings in shares of Ballard Power Systems by 300.0% in 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 period. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.40 on Friday. Ballard Power Systems Inc. has a fifty-two week low of $1.23 and a fifty-two week high of $3.38. The business has a 50 day moving average price of $1.55 and a two-hundred day moving average price of $1.62. 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 firm has a market cap of $419.21 million, a PE ratio of -1.27 and a beta of 1.69.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BLDP shares. Hsbc Global Res downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 6th. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. CIBC cut their price objective on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Finally, TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Seven 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.