Walleye Capital LLC Invests $247,000 in Ballard Power Systems Inc. (NASDAQ:BLDP)

Walleye Capital LLC bought a new position in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 39,174 shares of the technology company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 126,638 shares during the period. Allianz Asset Management GmbH boosted its holdings in Ballard Power Systems by 38.4% in the 1st 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 1st quarter worth approximately $25,988,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ballard Power Systems by 53.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,032,240 shares of the technology company’s stock worth $23,655,000 after acquiring an additional 704,218 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Ballard Power Systems by 41.0% in the 1st quarter. Federated Hermes Inc. now owns 1,594,766 shares of the technology company’s stock worth $18,563,000 after acquiring an additional 463,572 shares during the period. Hedge funds and other institutional investors own 28.25% of the company’s stock.

Ballard Power Systems Stock Performance

BLDP stock opened at $6.25 on Friday. The company has a current ratio of 14.44, a quick ratio of 13.65 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.86 billion, a P/E ratio of -10.08 and a beta of 1.67. Ballard Power Systems Inc. has a 12-month low of $5.12 and a 12-month high of $17.06. The stock’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $6.91.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last posted its quarterly earnings results on Monday, November 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $21.50 million for 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%. The business’s revenue was down 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. As a group, equities research analysts predict that Ballard Power Systems Inc. will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Raymond James decreased their price target on Ballard Power Systems from $10.00 to $6.00 and set a “market perform” rating for the company in a report on Tuesday, November 8th. Citigroup decreased their price target on Ballard Power Systems from $7.50 to $6.30 and set a “neutral” rating for the company in a report on Tuesday, November 8th. Truist Financial cut their target price on Ballard Power Systems from $9.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, October 18th. Susquehanna Bancshares cut their target price on Ballard Power Systems from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 8th. Finally, TD Securities lowered Ballard Power Systems from a “speculative buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $6.50 in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target 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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