Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Sold by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 65.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 63,055 shares of the technology company’s stock after selling 120,990 shares during the quarter. National Bank of Canada FI’s holdings in Ballard Power Systems were worth $113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. First Commonwealth Financial Corp PA bought a new position in Ballard Power Systems during the 3rd quarter worth $27,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the second quarter worth about $52,000. Daiwa Securities Group Inc. increased its holdings in shares of 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 acquiring an additional 14,415 shares during the period. MQS Management LLC acquired a new stake in shares of Ballard Power Systems in the 2nd quarter worth about $79,000. Finally, Itau Unibanco Holding S.A. acquired a new position in Ballard Power Systems during the 2nd quarter valued at about $91,000. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Stock Down 1.2 %

BLDP stock opened at $1.60 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The firm has a market capitalization of $479.07 million, a P/E ratio of -1.45 and a beta of 1.72. Ballard Power Systems Inc. has a 52-week low of $1.23 and a 52-week high of $3.83. The company’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.93.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of recent analyst reports. Susquehanna cut their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a report on Wednesday, October 16th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Hsbc Global Res cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Citigroup decreased their target price on 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. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.77.

Ballard Power Systems Company 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.