MQS Management LLC Takes Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

MQS Management LLC bought a new stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,078 shares of the technology company’s stock, valued at approximately $79,000.

Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in 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 valued at $925,000 after acquiring an additional 7,060 shares during the last quarter. TD Asset Management Inc boosted its holdings in Ballard Power Systems by 1.2% during the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after buying an additional 8,154 shares in the last quarter. BNP Paribas Financial Markets grew its position in Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after buying an additional 8,549 shares during the last quarter. Endowment Wealth Management Inc. bought a new position in shares of Ballard Power Systems in the first quarter valued at $28,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Ballard Power Systems by 75.8% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock valued at $90,000 after buying an additional 10,484 shares in the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BLDP has been the topic of a number of recent research reports. Cibc World Mkts cut Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Truist Financial dropped their price target on 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. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Jefferies Financial Group decreased 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 report on Tuesday, August 13th. Finally, TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price target for the company from $2.50 to $1.50 in a report on Monday, August 12th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $3.11.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $1.67 on Friday. The firm has a market cap of $499.98 million, a price-to-earnings ratio of -2.69 and a beta of 1.78. Ballard Power Systems Inc. has a 1 year low of $1.61 and a 1 year high of $4.02. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $1.96 and a 200 day simple moving average of $2.51.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. During the same period in the previous year, the company earned ($0.10) EPS. The firm’s revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts predict that Ballard Power Systems Inc. will post -0.48 earnings per share for the current fiscal year.

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.