40,269 Shares in Ballard Power Systems Inc. (NASDAQ:BLDP) Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. purchased a new stake in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,269 shares of the technology company’s stock, valued at approximately $91,000.

Other large investors have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of Ballard Power Systems by 75.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock valued at $90,000 after purchasing an additional 10,484 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ballard Power Systems in the 4th quarter worth approximately $192,000. TD Asset Management Inc grew its holdings in shares of Ballard Power Systems by 3.7% in the fourth quarter. TD Asset Management Inc now owns 680,378 shares of the technology company’s stock valued at $2,533,000 after acquiring an additional 24,287 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Ballard Power Systems by 25.0% during the fourth quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after acquiring an additional 100,700 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new stake in Ballard Power Systems during the fourth quarter worth $148,000. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Stock Down 4.6 %

BLDP stock opened at $1.67 on Monday. Ballard Power Systems Inc. has a twelve month low of $1.61 and a twelve month high of $4.02. The firm has a market capitalization of $499.98 million, a PE ratio of -2.69 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. The stock has a 50-day simple moving average of $1.96 and a two-hundred day simple moving average of $2.50.

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, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative net margin of 177.95% and a negative return on equity of 16.20%. The business 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 firm posted ($0.10) EPS. Ballard Power Systems’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts predict that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

BLDP has been the subject of several research analyst reports. CIBC reaffirmed an “underperformer” rating and set a $1.60 target price (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Wells Fargo & Company decreased their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Truist Financial dropped their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group reduced their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, Raymond James lowered their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating on the stock in a report on Wednesday, August 14th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have 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 $3.11.

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.