Scotia Capital Inc. reduced its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) by 10.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,510 shares of the technology company’s stock after selling 2,972 shares during the period. Scotia Capital Inc.’s holdings in Ballard Power Systems were worth $127,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of BLDP. Hartline Investment Corp bought a new position in Ballard Power Systems during the fourth quarter valued at $52,000. Raymond James & Associates purchased a new position in shares of Ballard Power Systems during the 4th quarter valued at $60,000. Creative Planning bought a new position in shares of Ballard Power Systems during the 3rd quarter worth $63,000. LMR Partners LLP bought a new position in shares of Ballard Power Systems during the 3rd quarter worth $78,000. Finally, PDT Partners LLC purchased a new stake in Ballard Power Systems in the 2nd quarter worth about $83,000. Hedge funds and other institutional investors own 31.97% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the stock. B. Riley cut their target price on shares of Ballard Power Systems from $9.00 to $6.00 in a research report on Monday, May 8th. Raymond James cut their price objective on shares of Ballard Power Systems from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday, March 21st. Truist Financial lowered their target price on shares of Ballard Power Systems from $7.00 to $6.00 in a report on Wednesday, March 15th. Susquehanna reduced their price target on Ballard Power Systems from $6.00 to $5.50 in a research report on Monday, March 20th. Finally, Scotiabank assumed coverage on Ballard Power Systems in a research note on Thursday, March 9th. They set a “sector perform” rating and a $7.25 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Hold” and an average target price of $6.82.
Ballard Power Systems Price Performance
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last released its quarterly earnings results on Friday, March 17th. The technology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03. Ballard Power Systems had a negative return on equity of 13.10% and a negative net margin of 219.52%. The business had revenue of $20.50 million for the quarter, compared to the consensus estimate of $25.62 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was down 44.1% on a year-over-year basis. On average, equities research analysts anticipate that Ballard Power Systems Inc. will post -0.51 earnings per share for the current fiscal year.
Ballard Power Systems Company Profile
Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.
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