Ballard Power Systems Inc. (NASDAQ:BLDP) Stock Holdings Lowered by Cibc World Market Inc.

Cibc World Market Inc. lowered its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 3.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 129,985 shares of the technology company’s stock after selling 4,071 shares during the period. Cibc World Market Inc.’s holdings in Ballard Power Systems were worth $821,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Fortitude Advisory Group L.L.C. bought a new position in shares of Ballard Power Systems during the 1st quarter valued at about $25,000. Tortoise Capital Advisors L.L.C. boosted its position in shares of Ballard Power Systems by 171.6% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,538 shares of the technology company’s stock valued at $41,000 after purchasing an additional 4,131 shares in the last quarter. Millburn Ridgefield Corp boosted its position in shares of Ballard Power Systems by 66.4% during the 2nd quarter. Millburn Ridgefield Corp now owns 7,365 shares of the technology company’s stock valued at $46,000 after purchasing an additional 2,940 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of Ballard Power Systems by 238.0% during the 1st quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock valued at $52,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Ballard Power Systems by 57.5% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 7,010 shares of the technology company’s stock valued at $82,000 after purchasing an additional 2,560 shares in the last quarter. Institutional investors own 28.25% of the company’s stock.

Ballard Power Systems Stock Up 0.8 %

Shares of NASDAQ BLDP opened at $6.25 on Monday. The stock has a market cap of $1.86 billion, a PE ratio of -10.08 and a beta of 1.67. The business has a fifty day moving average of $6.16 and a two-hundred day moving average of $6.89. Ballard Power Systems Inc. has a 52-week low of $5.12 and a 52-week high of $17.06. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.65 and a current ratio of 14.44.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on BLDP. B. Riley reduced their price objective on shares of Ballard Power Systems from $11.00 to $9.00 in a research note on Tuesday, November 8th. Citigroup reduced their price objective on shares of Ballard Power Systems from $7.50 to $6.30 and set a “neutral” rating for the company in a research note on Tuesday, November 8th. Lake Street Capital reduced their price objective on shares of Ballard Power Systems from $32.00 to $19.00 in a research note on Tuesday, November 8th. Jefferies Financial Group assumed coverage on shares of Ballard Power Systems in a research note on Wednesday, October 19th. They set a “hold” rating and a $6.00 price objective for the company. Finally, TD Securities lowered shares of Ballard Power Systems from a “speculative buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $6.50 in a research report on Tuesday, November 8th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.29.

Ballard Power Systems Profile

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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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