Mitsubishi UFJ Asset Management Co. Ltd. Decreases Holdings in Ballard Power Systems, Inc. $BLDP

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 46.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 606,241 shares of the technology company’s stock after selling 527,713 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Ballard Power Systems were worth $1,625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Amundi increased its stake in shares of Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. Hudson Bay Capital Management LP purchased a new position in Ballard Power Systems during the third quarter valued at approximately $43,000. Mackenzie Financial Corp grew its stake in Ballard Power Systems by 12.4% during the third quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock valued at $397,000 after acquiring an additional 16,204 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after acquiring an additional 19,170 shares in the last quarter. Finally, Scientech Research LLC grew its stake in Ballard Power Systems by 162.4% during the third quarter. Scientech Research LLC now owns 35,237 shares of the technology company’s stock valued at $96,000 after acquiring an additional 21,808 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on BLDP. TD Cowen lifted their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Raymond James Financial boosted their price objective on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on shares of Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a report on Friday, March 27th. BMO Capital Markets upped their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Reduce” and a consensus price target of $3.51.

Ballard Power Systems Stock Up 1.0%

Shares of Ballard Power Systems stock opened at $4.17 on Tuesday. The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The company’s fifty day simple moving average is $2.80 and its two-hundred day simple moving average is $2.75. The company has a market cap of $1.26 billion, a P/E ratio of -15.44 and a beta of 1.94. Ballard Power Systems, Inc. has a 12-month low of $1.24 and a 12-month high of $4.86.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. The firm had revenue of $18.98 million for the quarter, compared to the consensus estimate of $19.88 million. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. Research analysts anticipate that Ballard Power Systems, Inc. will post -0.19 EPS for the current year.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.