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

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 71.4% during the fourth quarter, Holdings Channel reports. The firm owned 1,020,801 shares of the technology company’s stock after purchasing an additional 425,374 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ballard Power Systems were worth $1,695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BLDP. Van ECK Associates Corp raised its stake in Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after buying an additional 644,861 shares during the last quarter. Jane Street Group LLC increased 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 acquiring an additional 646,219 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ballard Power Systems by 16.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 980,067 shares of the technology company’s stock valued at $1,629,000 after acquiring an additional 134,991 shares during the period. BNP Paribas Financial Markets boosted its position in Ballard Power Systems by 79.7% in the third quarter. BNP Paribas Financial Markets now owns 436,689 shares of the technology company’s stock worth $786,000 after purchasing an additional 193,658 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Ballard Power Systems by 51.0% during the 3rd quarter. Geode Capital Management LLC now owns 432,805 shares of the technology company’s stock valued at $779,000 after purchasing an additional 146,104 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.12 on Wednesday. The stock has a market capitalization of $335.37 million, a PE ratio of -1.02 and a beta of 1.75. Ballard Power Systems Inc. has a 1-year low of $1.07 and a 1-year high of $3.38. The business has a 50 day simple moving average of $1.32 and a two-hundred day simple moving average of $1.51. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Roth Mkm lowered their price objective 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. BMO Capital Markets dropped their price target on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research note on Friday, March 14th. Raymond James cut their price objective on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a research report on Friday, March 14th. National Bankshares lowered their target price on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating on the stock in a research report on Friday, March 14th. Finally, CIBC reduced their price target on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research report on Wednesday, December 4th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $2.13.

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.