Ballard Power Systems Inc. (NASDAQ:BLDP) Position Boosted by Toronto Dominion Bank

Toronto Dominion Bank lifted its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 300.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,933 shares of the technology company’s stock after purchasing an additional 20,949 shares during the period. Toronto Dominion Bank’s holdings in Ballard Power Systems were worth $50,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TD Asset Management Inc grew its position in Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after buying an additional 8,154 shares during the last quarter. Banque Cantonale Vaudoise grew 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 acquiring an additional 13,639 shares during the last quarter. Daiwa Securities Group Inc. raised 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 worth $54,000 after purchasing an additional 14,415 shares during the period. First Commonwealth Financial Corp PA purchased a new stake in shares of Ballard Power Systems during the third quarter valued at $27,000. Finally, XTX Topco Ltd boosted its position 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 valued at $159,000 after purchasing an additional 19,856 shares during the period. 28.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on BLDP. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. 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. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. HSBC downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Susquehanna decreased their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP opened at $1.60 on Tuesday. Ballard Power Systems Inc. has a one year low of $1.23 and a one year high of $3.83. The business’s 50-day moving average price is $1.53 and its two-hundred day moving average price is $1.93. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The company has a market capitalization of $479.07 million, a P/E ratio of -1.45 and a beta of 1.72.

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.