Garden State Investment Advisory Services LLC Acquires Shares of 66,000 Ballard Power Systems Inc. (NASDAQ:BLDP)

Garden State Investment Advisory Services LLC acquired a new stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,000 shares of the technology company’s stock, valued at approximately $119,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLDP. Tidal Investments LLC acquired a new stake in Ballard Power Systems during the first quarter valued at approximately $39,000. SG Americas Securities LLC raised its stake in Ballard Power Systems by 84.3% during the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock valued at $179,000 after buying an additional 36,368 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in Ballard Power Systems during the second quarter valued at approximately $94,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in Ballard Power Systems by 18.9% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company’s stock valued at $240,000 after buying an additional 16,978 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after buying an additional 186,833 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Up 2.7 %

Shares of NASDAQ BLDP opened at $1.53 on Tuesday. The stock has a fifty day moving average price of $1.55 and a two-hundred day moving average price of $2.03. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. Ballard Power Systems Inc. has a 1 year low of $1.23 and a 1 year high of $4.02.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLDP shares. Jefferies Financial Group dropped their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Wells Fargo & Company dropped their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, August 13th. Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Citigroup dropped their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Finally, Lake Street Capital dropped their price target on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $2.78.

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.