Ballard Power Systems Inc. (NASDAQ:BLDP) Stock Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 89.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 96,502 shares of the technology company’s stock after selling 825,446 shares during the quarter. Mackenzie Financial Corp’s holdings in Ballard Power Systems were worth $610,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fortitude Advisory Group L.L.C. bought a new position in Ballard Power Systems during the 1st quarter worth approximately $25,000. Catalyst Capital Advisors LLC raised 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 worth $52,000 after purchasing an additional 3,116 shares during the period. Tortoise Capital Advisors L.L.C. raised 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 worth $41,000 after purchasing an additional 4,131 shares during the period. Steward Partners Investment Advisory LLC raised 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 worth $82,000 after purchasing an additional 2,560 shares during the period. Finally, Millburn Ridgefield Corp raised 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 worth $46,000 after purchasing an additional 2,940 shares during the period. Institutional investors own 28.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Raymond James dropped their price target on Ballard Power Systems from $10.00 to $6.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 8th. TD Securities cut Ballard Power Systems from a “speculative buy” rating to a “hold” rating and lowered their target price for the company from $11.00 to $6.50 in a research report on Tuesday, November 8th. Cowen lowered their target price on Ballard Power Systems to $7.50 in a research report on Tuesday, November 15th. Susquehanna Bancshares lowered 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, Lake Street Capital lowered their price target on Ballard Power Systems from $32.00 to $19.00 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.29.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $6.09 on Friday. The stock has a market cap of $1.82 billion, a PE ratio of -9.82 and a beta of 1.67. The business has a fifty day simple moving average of $6.02 and a 200-day simple moving average of $6.85. 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 Inc. has a 12 month low of $5.12 and a 12 month high of $15.97.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its earnings results on Monday, November 7th. The technology company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $21.50 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.62 EPS for the current fiscal year.

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.

Further Reading

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

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