Ballard Power Systems Inc. (NASDAQ:BLDP) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,781,851 shares of the technology company’s stock after selling 28,918 shares during the period. Van ECK Associates Corp owned about 0.60% of Ballard Power Systems worth $6,593,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Headlands Technologies LLC acquired a new stake in Ballard Power Systems in the fourth quarter valued at $31,000. FNY Investment Advisers LLC boosted its position in shares of Ballard Power Systems by 5,000.0% in the 4th quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after buying an additional 10,000 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Ballard Power Systems in the 3rd quarter worth about $48,000. Exchange Traded Concepts LLC purchased a new stake in shares of Ballard Power Systems in the 3rd quarter worth about $48,000. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of Ballard Power Systems by 37.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock worth $51,000 after buying an additional 3,753 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BLDP. TD Securities decreased their price objective on shares of Ballard Power Systems from $3.00 to $2.50 in a research report on Thursday, April 25th. Jefferies Financial Group decreased their price objective on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research report on Tuesday, January 30th. Piper Sandler decreased 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 report on Wednesday, March 13th. Raymond James reduced their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Finally, Citigroup reduced their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. 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. According to data from MarketBeat, Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $3.94.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $2.81 on Friday. Ballard Power Systems Inc. has a 12 month low of $2.42 and a 12 month high of $5.68. The company has a 50-day moving average of $2.90 and a 200-day moving average of $3.25. 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 net margin of 172.63% and a negative return on equity of 14.06%. The company had revenue of $46.80 million for the quarter, compared to analyst estimates of $26.32 million. During the same period in the prior year, the company earned ($0.12) EPS. The company’s revenue was up 131.7% compared to the same quarter last year. On average, analysts anticipate that Ballard Power Systems Inc. will post -0.51 earnings per share for the current 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.