Penserra Capital Management LLC Acquires 330,815 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Penserra Capital Management LLC boosted its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 52.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 959,941 shares of the technology company’s stock after acquiring an additional 330,815 shares during the period. Penserra Capital Management LLC owned 0.32% of Ballard Power Systems worth $1,727,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. TD Asset Management Inc boosted its stake in shares of Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in Ballard Power Systems by 7.7% during the 3rd quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock valued at $343,000 after acquiring an additional 13,639 shares in the last quarter. Tidal Investments LLC bought a new stake in Ballard Power Systems during the 1st quarter valued at approximately $39,000. Daiwa Securities Group Inc. grew its holdings in shares of Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Ballard Power Systems by 18.9% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company’s stock worth $240,000 after acquiring an additional 16,978 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BLDP. Susquehanna dropped their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. HSBC cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Citigroup decreased their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Truist Financial dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Finally, Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.78.

Ballard Power Systems Trading Up 9.2 %

Shares of Ballard Power Systems stock opened at $1.43 on Tuesday. Ballard Power Systems Inc. has a twelve month low of $1.23 and a twelve month high of $4.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The company’s 50 day moving average is $1.57 and its 200 day moving average is $2.08.

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.