First Trust Advisors LP Sells 63,698 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

First Trust Advisors LP lowered its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,929,842 shares of the technology company’s stock after selling 63,698 shares during the quarter. First Trust Advisors LP owned 0.65% of Ballard Power Systems worth $11,811,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Shell Asset Management Co. increased its position in shares of Ballard Power Systems by 224.0% during the 2nd quarter. Shell Asset Management Co. now owns 25,644 shares of the technology company’s stock valued at $162,000 after purchasing an additional 17,729 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Ballard Power Systems by 13.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 46,802 shares of the technology company’s stock valued at $286,000 after purchasing an additional 5,441 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in shares of Ballard Power Systems by 130.5% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 202,229 shares of the technology company’s stock valued at $1,237,000 after purchasing an additional 114,480 shares during the last quarter. Falcon Wealth Planning increased its position in shares of Ballard Power Systems by 145.5% during the 3rd quarter. Falcon Wealth Planning now owns 35,103 shares of the technology company’s stock valued at $215,000 after purchasing an additional 20,803 shares during the last quarter. Finally, Bruni J V & Co. Co. increased its position in shares of Ballard Power Systems by 0.6% during the 3rd quarter. Bruni J V & Co. Co. now owns 617,916 shares of the technology company’s stock valued at $3,782,000 after purchasing an additional 3,468 shares during the last quarter. Institutional investors own 31.97% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $5.28 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.65 and a current ratio of 14.44. Ballard Power Systems Inc. has a 1-year low of $4.43 and a 1-year high of $12.57. The business has a fifty day moving average price of $5.92 and a 200 day moving average price of $6.08.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Cowen cut their target price on Ballard Power Systems to $7.50 in a research report on Tuesday, November 15th. UBS Group assumed coverage on Ballard Power Systems in a research report on Tuesday, December 13th. They issued a “neutral” rating on the stock. BMO Capital Markets assumed coverage on Ballard Power Systems in a research report on Thursday, December 8th. They issued a “market perform” rating and a $5.50 price objective on the stock. Wells Fargo & Company downgraded Ballard Power Systems from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $6.00 to $5.00 in a research report on Friday, January 6th. Finally, Scotiabank assumed coverage on Ballard Power Systems in a research report on Thursday. They issued a “sector perform” rating and a $7.25 price objective on the stock. Two analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.71.

Ballard Power Systems Company Profile

(Get Rating)

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.