Pictet Asset Management SA Sells 87,921 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Pictet Asset Management SA lowered its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 84.1% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,656 shares of the technology company’s stock after selling 87,921 shares during the period. Pictet Asset Management SA’s holdings in Ballard Power Systems were worth $105,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. abrdn plc grew its position in Ballard Power Systems by 0.6% during the first quarter. abrdn plc now owns 275,864 shares of the technology company’s stock valued at $3,263,000 after buying an additional 1,656 shares during the period. Fortitude Advisory Group L.L.C. bought a new position in Ballard Power Systems during the first quarter valued at about $25,000. Steward Partners Investment Advisory LLC grew its position in Ballard Power Systems by 57.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 7,010 shares of the technology company’s stock valued at $82,000 after buying an additional 2,560 shares during the period. Millburn Ridgefield Corp grew its position in Ballard Power Systems by 66.4% during the second quarter. Millburn Ridgefield Corp now owns 7,365 shares of the technology company’s stock valued at $46,000 after buying an additional 2,940 shares during the period. Finally, Catalyst Capital Advisors LLC grew its position in Ballard Power Systems by 238.0% during the first quarter. Catalyst Capital Advisors LLC now owns 4,425 shares of the technology company’s stock valued at $52,000 after buying an additional 3,116 shares during the period. Institutional investors own 28.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on BLDP shares. National Bank Financial lowered shares of Ballard Power Systems from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, November 8th. Susquehanna Bancshares cut their target price on shares of Ballard Power Systems from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Tuesday, November 8th. Lake Street Capital cut their target price on shares of Ballard Power Systems from $32.00 to $19.00 in a research report on Tuesday, November 8th. Jefferies Financial Group started coverage on shares of Ballard Power Systems in a research report on Wednesday, October 19th. They set a “hold” rating and a $6.00 target price for the company. Finally, National Bankshares lowered shares of Ballard Power Systems from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $12.00 to $8.00 in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, Ballard Power Systems presently has an average rating of “Hold” and an average target price of $8.29.

Ballard Power Systems Trading Up 2.9 %

Shares of BLDP opened at $6.09 on Friday. The firm’s 50 day simple moving average is $6.02 and its 200 day simple moving average is $6.85. The company has a market capitalization of $1.82 billion, a P/E ratio of -9.82 and a beta of 1.67. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.44 and a quick ratio of 13.65. Ballard Power Systems Inc. has a 1-year low of $5.12 and a 1-year high of $15.97.

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

Ballard Power Systems Company 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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