Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lifted its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 19.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,524,180 shares of the technology company's stock after purchasing an additional 252,524 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.51% of Ballard Power Systems worth $2,529,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ballard Power Systems by 71.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company's stock worth $1,695,000 after buying an additional 425,374 shares during the period. Geode Capital Management LLC grew its holdings 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 worth $779,000 after purchasing an additional 146,104 shares during the period. Van ECK Associates Corp grew its holdings in shares of 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 worth $4,094,000 after purchasing an additional 644,861 shares during the period. XTX Topco Ltd increased its position in Ballard Power Systems by 494.0% during the 4th quarter. XTX Topco Ltd now owns 523,941 shares of the technology company's stock worth $870,000 after purchasing an additional 435,729 shares in the last quarter. Finally, Portolan Capital Management LLC purchased a new position in Ballard Power Systems in the fourth quarter valued at approximately $2,508,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BLDP shares. Roth Mkm dropped their price objective on shares of Ballard Power Systems from $1.75 to $1.25 and set a "neutral" rating for the company in a research report on Friday, March 14th. TD Cowen upgraded Ballard Power Systems to a "strong sell" rating in a report on Monday, January 13th. Susquehanna decreased their target price on Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group set a $1.25 target price on Ballard Power Systems in a report on Friday, March 14th. Finally, HSBC decreased their price target on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a report on Friday, March 14th. Seven analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $2.08.

Ballard Power Systems Stock Up 2.8 %

Shares of BLDP stock traded up $0.04 during trading hours on Friday, hitting $1.27. 1,620,386 shares of the company were exchanged, compared to its average volume of 5,502,612. The stock has a market capitalization of $379.29 million, a price-to-earnings ratio of -1.15 and a beta of 1.84. Ballard Power Systems Inc. has a one year low of $1.00 and a one year high of $3.34. The business's 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.42. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01.

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.