First Commonwealth Financial Corp PA Buys New Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

First Commonwealth Financial Corp PA purchased a new position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,881 shares of the technology company’s stock, valued at approximately $27,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Tidal Investments LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at about $39,000. Scientech Research LLC acquired a new position in Ballard Power Systems in the second quarter valued at approximately $52,000. Daiwa Securities Group Inc. boosted its position in Ballard Power Systems by 149.7% in the 2nd 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 in the last quarter. Westwood Holdings Group Inc. purchased a new stake in Ballard Power Systems in the 1st quarter worth approximately $59,000. Finally, MQS Management LLC acquired a new stake in shares of Ballard Power Systems during the 2nd quarter worth approximately $79,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BLDP. Susquehanna decreased their target price on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. StockNews.com upgraded Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Cibc World Mkts lowered Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 13th. Lake Street Capital lowered 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. Finally, Raymond James cut their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Six 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 MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $2.78.

Ballard Power Systems Price Performance

NASDAQ:BLDP opened at $1.47 on Thursday. Ballard Power Systems Inc. has a twelve month low of $1.23 and a twelve month high of $4.02. The company’s 50-day moving average price is $1.56 and its 200-day moving average price is $2.07. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19.

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.