Decade Renewable Partners LP Makes New $450,000 Investment in Ballard Power Systems Inc. (NASDAQ:BLDP)

Decade Renewable Partners LP purchased a new position in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 200,000 shares of the technology company’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in Ballard Power Systems during the fourth quarter valued at approximately $192,000. CIBC Asset Management Inc boosted its position in shares of Ballard Power Systems by 2.9% in the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock worth $925,000 after purchasing an additional 7,060 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after purchasing an additional 353,098 shares in the last quarter. Toronto Dominion Bank grew its stake in Ballard Power Systems by 182.8% during the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock worth $96,000 after buying an additional 22,273 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after buying an additional 8,549 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of BLDP opened at $1.66 on Thursday. The firm has a 50-day simple moving average of $1.91 and a two-hundred day simple moving average of $2.47. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems Inc. has a 1-year low of $1.61 and a 1-year high of $4.02.

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 (EPS) 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 for the quarter, compared to analyst estimates of $19.36 million. During the same quarter in the prior year, the company earned ($0.10) EPS. Ballard Power Systems’s revenue was up 4.6% on a year-over-year basis. On average, analysts anticipate that Ballard Power Systems Inc. will post -0.48 EPS for the current year.

Analysts Set New Price Targets

BLDP has been the topic of several recent analyst reports. Susquehanna cut their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Truist Financial reduced their target price 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. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $2.50 to $1.50 in a research note on Monday, August 12th. Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Finally, CIBC reiterated an “underperformer” rating and issued a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.