Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 8.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,321,782 shares of the technology company’s stock after purchasing an additional 186,833 shares during the quarter. Van ECK Associates Corp owned about 0.78% of Ballard Power Systems worth $5,224,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. boosted its holdings in Ballard Power Systems by 18.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company’s stock valued at $240,000 after purchasing an additional 16,978 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new position in Ballard Power Systems in the second quarter valued at approximately $94,000. SG Americas Securities LLC lifted its stake in Ballard Power Systems by 84.3% in the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock valued at $179,000 after buying an additional 36,368 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in Ballard Power Systems in the first quarter valued at approximately $59,000. Finally, Tidal Investments LLC purchased a new stake in Ballard Power Systems in the first quarter valued at approximately $39,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Trading Down 4.9 %

NASDAQ:BLDP opened at $1.75 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The stock has a market capitalization of $523.97 million, a price-to-earnings ratio of -2.82 and a beta of 1.78. Ballard Power Systems Inc. has a 1 year low of $1.73 and a 1 year high of $4.34. The stock has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $2.64.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. Ballard Power Systems’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) earnings per share. As a group, sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Raymond James reduced their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. National Bankshares reduced their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Susquehanna reduced their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday, August 13th. Lake Street Capital reduced their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Truist Financial reduced their price objective on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $3.11.

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.