TD Asset Management Inc Has $1.60 Million Stock Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

TD Asset Management Inc lifted its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 1.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 707,953 shares of the technology company’s stock after acquiring an additional 8,154 shares during the period. TD Asset Management Inc’s holdings in Ballard Power Systems were worth $1,599,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Jump Financial LLC acquired a new position in Ballard Power Systems during the fourth quarter worth about $1,086,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Ballard Power Systems by 16.6% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 471,281 shares of the technology company’s stock valued at $1,678,000 after purchasing an additional 66,976 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Ballard Power Systems by 75.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock worth $90,000 after purchasing an additional 10,484 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Ballard Power Systems in the 4th quarter valued at approximately $192,000. Finally, Allianz Asset Management GmbH boosted its position in Ballard Power Systems by 25.0% in the fourth quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after buying an additional 100,700 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.80 on Friday. The company has a market capitalization of $538.94 million, a PE ratio of -2.90 and a beta of 1.78. The company has a quick ratio of 10.05, a current ratio of 10.90 and a debt-to-equity ratio of 0.03. Ballard Power Systems Inc. has a twelve month low of $1.61 and a twelve month high of $4.34. The firm has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.56.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. During the same period last year, the company posted ($0.10) EPS. The business’s quarterly revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts forecast that Ballard Power Systems Inc. will post -0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Truist Financial lowered their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their target price for the stock from $2.50 to $1.50 in a report on Monday, August 12th. Jefferies Financial Group cut their price target on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Lake Street Capital lowered 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, Cibc World Mkts lowered shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $3.11.

Ballard Power Systems 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.