DekaBank Deutsche Girozentrale reduced its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP – Free Report) (TSE:BLD) by 61.5% in the first quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,355 shares of the technology company after selling 26,136 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Ballard Power Systems were worth $45,000 at the end of the last quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zürcher Kantonalbank Zürich Cantonalbank increased its position in Ballard Power Systems by 11.6% in the fourth quarter. Zürcher Kantonalbank Zürich Cantonalbank now owns 865,353 shares of the technology company’s stock worth $3,222,000 after purchasing an additional 89,643 shares in the last quarter. Virtu Financial LLC acquired a new position in Ballard Power Systems in the fourth quarter valued at $192,000. Jump Financial LLC bought a new position in Ballard Power Systems in the fourth quarter valued at about $1,086,000. CIBC Asset Management Inc. increased its holdings in Ballard Power Systems by 2.9% in the fourth quarter. CIBC Asset Management Inc. now owns 248,887 shares of the technology company’s stock valued at $925,000 after acquiring an additional 7,060 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after acquiring an additional 353,098 shares in the last quarter. 28.02% of the shares are held by hedge funds and other institutional investors.
Ballard Power Systems Price-Performance Ratio
NASDAQ:BLDP shares traded $0.05 lower during midday trading on Friday, reaching $1.93. The trading volume of the company’s shares was 1,786,936 shares, compared to its average volume of 2,787,709. The company’s 50-day moving average is $2.43 and its 200-day moving average is $2.81. The company has a market cap of $577.83 million, a P/E ratio of -3.11 and a beta of 1.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.66 and a quick ratio of 10.88. Ballard Power Systems Inc. has a 52-week low of $1.85 and a 52-week high of $4.96.
Ballard Power Systems (NASDAQ:BLDP – Free Report) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 7. The technology company reported earnings per share of -$0.14 for the quarter, missing analysts’ consensus estimates of -$0.13 by -$0.01. The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company’s revenue grew 9.8% year-over-year for the quarter. During the same period last year, the company generated earnings per share of -$0.11. As a group, equities analysts expect Ballard Power Systems Inc. to post earnings per share of -$0.51 for the current fiscal year.
Wall Street analysts comment
Several brokerage firms have issued reports on BLDP. TD Securities increased their price target on shares of Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Wells Fargo & Company decreased their price target on shares of Ballard Power Systems from $3.50 to $3.00 and gave the stock an “underweight” rating in a report on Thursday, May 9th. CIBC decreased their price target on shares of Ballard Power Systems from $3.75 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Truist Financial reiterated a “hold” rating and issued a $3.00 price target (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. Finally, National Bankshares lowered their price target on Ballard Power Systems from $4.50 to $4.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 8. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.49.
Read our latest research report on BLDP
Profile of Ballard Power Systems
(Free report)
Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power generation products including buses, trucks, rail, marine, stationary and emerging markets such as material handling, off-road and other applications.
More information
Get daily news and reviews about Ballard Power Systems – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ballard Power Systems and related companies with MarketBeat.com’s FREE daily email newsletter.
