Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 11.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 865,353 shares of the technology company’s stock after acquiring an additional 89,643 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.29% of Ballard Power Systems worth $3,222,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of BLDP. Exchange Traded Concepts LLC purchased a new stake in shares of Ballard Power Systems during the 3rd quarter worth approximately $48,000. Mackenzie Financial Corp boosted its stake in shares of Ballard Power Systems by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock worth $393,000 after acquiring an additional 2,974 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ballard Power Systems by 27.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock worth $14,353,000 after acquiring an additional 849,311 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Ballard Power Systems during the 3rd quarter worth approximately $48,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Ballard Power Systems by 2.8% during the 3rd quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock worth $893,000 after acquiring an additional 6,494 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BLDP shares. Raymond James decreased their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 13th. Piper Sandler cut their price objective on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Citigroup cut their price objective on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Jefferies Financial Group cut their price objective on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Finally, TD Securities cut their price objective on Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, March 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $3.97.

Ballard Power Systems Price Performance

Shares of BLDP opened at $2.58 on Tuesday. The stock has a fifty day moving average of $2.99 and a two-hundred day moving average of $3.31. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. Ballard Power Systems Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $5.68.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $46.80 million for the quarter, compared to analyst estimates of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company’s quarterly revenue was up 131.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Equities research analysts forecast 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 proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.