Steward Partners Investment Advisory LLC Raises Stock Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

Steward Partners Investment Advisory LLC raised its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 57.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,010 shares of the technology company’s stock after purchasing an additional 2,560 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Ballard Power Systems were worth $82,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Ballard Power Systems by 5.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,226,574 shares of the technology company’s stock valued at $25,955,000 after purchasing an additional 123,919 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Ballard Power Systems by 24.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 510,089 shares of the technology company’s stock worth $5,942,000 after buying an additional 99,149 shares during the last quarter. abrdn plc grew its holdings in Ballard Power Systems by 562.8% during the fourth quarter. abrdn plc now owns 274,208 shares of the technology company’s stock worth $3,445,000 after acquiring an additional 232,839 shares during the period. Hilltop Holdings Inc. purchased a new position in Ballard Power Systems during the fourth quarter valued at approximately $289,000. Finally, Millburn Ridgefield Corp lifted its holdings in Ballard Power Systems by 238.0% in the first quarter. Millburn Ridgefield Corp now owns 4,425 shares of the technology company’s stock valued at $52,000 after acquiring an additional 3,116 shares during the period. Institutional investors and hedge funds own 35.47% of the company’s stock.

Ballard Power Systems Stock Up 4.9 %

Shares of NASDAQ BLDP opened at $8.20 on Wednesday. The company has a current ratio of 15.36, a quick ratio of 14.61 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average of $6.93 and a 200 day moving average of $8.80. Ballard Power Systems Inc. has a 12-month low of $5.75 and a 12-month high of $19.66. The stock has a market cap of $2.44 billion, a PE ratio of -17.83 and a beta of 1.77.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last posted its quarterly earnings results on Monday, May 9th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $21.00 million during the quarter, compared to analyst estimates of $24.88 million. Ballard Power Systems had a negative net margin of 126.91% and a negative return on equity of 10.21%. Ballard Power Systems’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) EPS. As a group, sell-side analysts predict that Ballard Power Systems Inc. will post -0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on BLDP shares. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a report on Thursday, June 2nd. B. Riley decreased their price objective on shares of Ballard Power Systems from $15.00 to $12.00 in a research report on Tuesday, May 10th. Piper Sandler started coverage on Ballard Power Systems in a research report on Wednesday, June 8th. They set a “sell” rating and a $5.00 target price on the stock. Raymond James reduced their price target on Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating for the company in a report on Tuesday, May 10th. Finally, National Bankshares dropped their price objective on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, May 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $12.86.

Ballard Power Systems Company Profile

(Get Rating)

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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.

Recommended Stories

Institutional Ownership by Quarter for Ballard Power Systems (NASDAQ:BLDP)

Want More Great Investing Ideas?

Receive News & Ratings for Ballard Power Systems Daily - 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.