Vontobel Holding Ltd. Sells 1,871,235 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Vontobel Holding Ltd. lowered its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 98.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,097 shares of the technology company’s stock after selling 1,871,235 shares during the period. Vontobel Holding Ltd.’s holdings in Ballard Power Systems were worth $65,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Endowment Wealth Management Inc. bought a new position in Ballard Power Systems during the first quarter valued at approximately $28,000. Tidal Investments LLC purchased a new stake in Ballard Power Systems during the 1st quarter valued at $39,000. Westwood Holdings Group Inc. bought a new position in shares of Ballard Power Systems during the 1st quarter valued at $59,000. Scientech Research LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth $52,000. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after acquiring an additional 14,415 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.59 on Thursday. The company has a market capitalization of $476.03 million, a price-to-earnings ratio of -2.56 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’s 50-day simple moving average is $1.74 and its 200-day simple moving average is $2.31. Ballard Power Systems Inc. has a 52 week low of $1.57 and a 52 week high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results 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. The business had revenue of $16.00 million during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. As a group, analysts expect that Ballard Power Systems Inc. will post -0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLDP has been the topic of a number of recent research reports. CIBC reissued an “underperformer” rating and issued a $1.60 target price (down previously from $3.50) on shares of Ballard Power Systems in a report on Tuesday, August 13th. National Bankshares dropped their price objective on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 13th. 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 report on Monday, August 12th. Susquehanna decreased their price target on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, Lake Street Capital cut their price objective on shares of Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Ballard Power Systems presently has an average rating of “Hold” and a consensus target price of $2.89.

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.