Ballard Power Systems Inc. (NASDAQ:BLDP) Position Boosted by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its position in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 76.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 116,616 shares of the technology company’s stock after buying an additional 50,592 shares during the quarter. Hsbc Holdings PLC’s holdings in Ballard Power Systems were worth $263,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BLDP. Virtu Financial LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $192,000. CIBC Asset Management Inc raised its holdings in shares of Ballard Power Systems by 2.9% during the fourth quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock worth $925,000 after purchasing an additional 7,060 shares during the period. Van ECK Associates Corp lifted its position in shares of Ballard Power Systems by 19.8% in the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after buying an additional 353,098 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Ballard Power Systems by 182.8% in the 1st quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock valued at $96,000 after buying an additional 22,273 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock valued at $600,000 after buying an additional 8,549 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. 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. 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. Citigroup dropped their target price on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday. Raymond James reduced their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Finally, BMO Capital Markets cut their price objective on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.01.

Ballard Power Systems Stock Performance

BLDP opened at $1.67 on Friday. Ballard Power Systems Inc. has a 1-year low of $1.61 and a 1-year high of $4.02. The company has a market capitalization of $500.01 million, a price-to-earnings ratio of -2.69 and a beta of 1.78. The business has a 50 day moving average price of $1.85 and a two-hundred day moving average price of $2.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share 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 analysts’ expectations of $19.36 million. During the same quarter last year, the business posted ($0.10) earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Research analysts predict 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.