Daiwa Securities Group Inc. Has $54,000 Stock Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Daiwa Securities Group Inc. boosted its position in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 149.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,047 shares of the technology company’s stock after buying an additional 14,415 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Ballard Power Systems were worth $54,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after acquiring an additional 186,833 shares during the period. Rafferty Asset Management LLC boosted its holdings in Ballard Power Systems by 49.5% in the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock valued at $2,642,000 after purchasing an additional 236,449 shares during the period. TD Asset Management Inc boosted its holdings in Ballard Power Systems by 1.2% in the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after purchasing an additional 8,154 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Ballard Power Systems by 7.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock worth $1,572,000 after purchasing an additional 38,662 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Ballard Power Systems by 25.0% during the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock worth $1,873,000 after purchasing an additional 100,700 shares during the period. Institutional investors own 28.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BLDP shares. TD Securities cut shares of Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their target price for the company from $2.50 to $1.50 in a research note on Monday, August 12th. 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 report 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 on the stock in a research report on Tuesday, August 13th. Raymond James reduced their target price on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research report on Wednesday, August 14th. Finally, Truist Financial lowered their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock 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 issued a buy rating to the stock. According to data from MarketBeat.com, Ballard Power Systems has an average rating of “Hold” and a consensus target price of $3.11.

Ballard Power Systems Stock Up 1.2 %

Ballard Power Systems stock opened at $1.72 on Thursday. The company has a 50 day moving average of $2.00 and a 200-day moving average of $2.53. 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 $4.09. The stock has a market capitalization of $514.99 million, a PE ratio of -2.77 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates 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%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) earnings per share. On average, equities research analysts anticipate that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

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.