1,510,772 Shares in Ballard Power Systems Inc. (NASDAQ:BLDP) Bought by Portolan Capital Management LLC

Portolan Capital Management LLC acquired a new position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,510,772 shares of the technology company’s stock, valued at approximately $2,508,000. Portolan Capital Management LLC owned about 0.50% of Ballard Power Systems as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of BLDP. Raymond James Financial Inc. purchased a new position in shares of Ballard Power Systems during the fourth quarter worth about $27,000. Toronto Dominion Bank grew its stake in shares of Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after purchasing an additional 20,949 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $52,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock valued at $68,000 after purchasing an additional 10,767 shares during the period. Finally, Garden State Investment Advisory Services LLC purchased a new stake in shares of Ballard Power Systems during the third quarter worth approximately $119,000. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BLDP shares. BMO Capital Markets dropped their price objective on shares of Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating on the stock in a research note on Friday, March 14th. Wells Fargo & Company set a $1.00 price target on shares of Ballard Power Systems in a research note on Thursday, March 13th. Citigroup reduced their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Finally, Susquehanna cut their target price on Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research note on Monday. Six equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $2.11.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.20 on Tuesday. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $1.27 and its 200 day moving average price is $1.46. Ballard Power Systems Inc. has a 52 week low of $1.00 and a 52 week high of $3.34. The stock has a market cap of $359.33 million, a price-to-earnings ratio of -1.09 and a beta of 1.84.

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.