Shell Asset Management Co. Purchases 17,729 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Shell Asset Management Co. boosted its position in Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 224.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 25,644 shares of the technology company’s stock after purchasing an additional 17,729 shares during the period. Shell Asset Management Co.’s holdings in Ballard Power Systems were worth $162,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BLDP. Vanguard Group Inc. boosted its stake in shares of Ballard Power Systems by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 8,147,247 shares of the technology company’s stock worth $94,833,000 after buying an additional 126,638 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Ballard Power Systems by 38.4% during the first quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock worth $37,855,000 after acquiring an additional 902,351 shares during the period. Renaissance Technologies LLC purchased a new position in Ballard Power Systems in the first quarter worth $25,988,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ballard Power Systems by 53.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,032,240 shares of the technology company’s stock valued at $23,655,000 after purchasing an additional 704,218 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Ballard Power Systems by 41.0% during the 1st quarter. Federated Hermes Inc. now owns 1,594,766 shares of the technology company’s stock worth $18,563,000 after purchasing an additional 463,572 shares during the period. 28.25% of the stock is owned by institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $6.25 on Friday. The stock’s 50-day simple moving average is $6.16 and its two-hundred day simple moving average is $6.91. Ballard Power Systems Inc. has a twelve month low of $5.12 and a twelve month high of $17.06. The firm has a market capitalization of $1.86 billion, a P/E ratio of -10.08 and a beta of 1.67. The company has a quick ratio of 13.65, a current ratio of 14.44 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its quarterly earnings data on Monday, November 7th. The technology company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The company had revenue of $21.50 million during the quarter, compared to analyst estimates of $23.94 million. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. Ballard Power Systems’s revenue was down 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. As a group, equities analysts anticipate that Ballard Power Systems Inc. will post -0.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Truist Financial dropped their price objective on Ballard Power Systems from $9.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, October 18th. Citigroup dropped their price target on Ballard Power Systems from $7.50 to $6.30 and set a “neutral” rating on the stock in a research report on Tuesday, November 8th. Jefferies Financial Group initiated coverage on Ballard Power Systems in a report on Wednesday, October 19th. They issued a “hold” rating and a $6.00 price objective for the company. National Bank of Canada reiterated a “sector perform” rating and set a $8.00 target price (down previously from $12.00) on shares of Ballard Power Systems in a research report on Tuesday, November 8th. Finally, National Bank Financial downgraded shares of Ballard Power Systems from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $8.29.

About Ballard Power Systems

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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.

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

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