Mitsubishi UFJ Asset Management Co. Ltd. Buys 425,374 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 71.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,020,801 shares of the technology company’s stock after acquiring an additional 425,374 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.34% of Ballard Power Systems worth $1,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of Ballard Power Systems by 35.9% in the fourth 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 last quarter. Raymond James Financial Inc. purchased a new stake in Ballard Power Systems during the 4th quarter valued at $27,000. XTX Topco Ltd grew its holdings in 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 acquiring an additional 19,856 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Ballard Power Systems by 8.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 344,589 shares of the technology company’s stock valued at $620,000 after acquiring an additional 27,787 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLDP has been the subject of a number of recent analyst reports. UBS Group set a $1.25 price target on Ballard Power Systems in a research report on Friday, March 14th. Raymond James decreased their target price on Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a report on Friday, March 14th. HSBC cut their price target on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating on the stock in a report on Friday, March 14th. Wells Fargo & Company set a $1.00 price objective on shares of Ballard Power Systems in a report on Thursday, March 13th. Finally, Roth Mkm cut their target price on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.13.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.12 on Wednesday. The firm has a market cap of $335.37 million, a P/E ratio of -1.02 and a beta of 1.75. Ballard Power Systems Inc. has a twelve month low of $1.07 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 company has a 50 day moving average of $1.32 and a 200 day moving average of $1.51.

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.