Ballard Power Systems Inc. (NASDAQ:BLDP) Position Trimmed by Swiss National Bank

Swiss National Bank lowered its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 10.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 473,500 shares of the technology company’s stock after selling 56,300 shares during the period. Swiss National Bank’s holdings in Ballard Power Systems were worth $1,758,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after acquiring an additional 3,753 shares during the last quarter. Public Sector Pension Investment Board boosted its position in shares of Ballard Power Systems by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after purchasing an additional 4,677 shares during the period. Headlands Technologies LLC purchased a new position in Ballard Power Systems in the 4th quarter worth about $31,000. FNY Investment Advisers LLC raised its holdings in Ballard Power Systems by 5,000.0% during the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Ballard Power Systems during the third quarter valued at about $63,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Trading Up 3.0 %

Shares of NASDAQ BLDP opened at $3.09 on Friday. The business has a 50 day simple moving average of $2.89 and a 200 day simple moving average of $3.21. Ballard Power Systems Inc. has a 52 week low of $2.42 and a 52 week high of $5.68. The stock has a market cap of $925.12 million, a price-to-earnings ratio of -4.98 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The business had revenue of $14.50 million during the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) earnings per share. On average, research analysts predict that Ballard Power Systems Inc. will post -0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler cut their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Jefferies Financial Group cut their target price on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. HSBC reduced their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a report on Wednesday, May 8th. National Bankshares lowered their price target on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 8th. Finally, Wells Fargo & Company reduced their price objective on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $3.74.

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.