Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 11.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 865,353 shares of the technology company’s stock after purchasing an additional 89,643 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ballard Power Systems were worth $3,222,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC increased its stake in shares of Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after acquiring an additional 10,000 shares during the period. Arete Wealth Advisors LLC acquired a new position in shares of Ballard Power Systems during the third quarter valued at approximately $48,000. Exchange Traded Concepts LLC acquired a new position in shares of Ballard Power Systems during the third quarter valued at approximately $48,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of Ballard Power Systems by 37.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after acquiring an additional 3,753 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Ballard Power Systems during the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

Ballard Power Systems stock opened at $2.58 on Tuesday. The company has a 50 day moving average price of $2.99 and a 200 day moving average price of $3.31. Ballard Power Systems Inc. has a 52 week low of $2.53 and a 52 week high of $5.68. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The firm had revenue of $46.80 million during the quarter, compared to analyst estimates of $26.32 million. During the same period in the prior year, the business posted ($0.12) EPS. The company’s revenue for the quarter was up 131.7% on a year-over-year basis. On average, equities analysts forecast that Ballard Power Systems Inc. will post -0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BLDP shares. Piper Sandler lowered their price objective on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research note on Wednesday, March 13th. Citigroup reduced their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Jefferies Financial Group reduced their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a report on Tuesday, January 30th. Raymond James reduced their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. Finally, TD Securities reduced their target price on shares of Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a report on Tuesday, March 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.97.

About Ballard Power Systems

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.