Institutional investors recently purchased and sold shares of Ballard Power Systems, with hedge funds like Vanguard Group Inc. and Legal & General Group Plc increasing their stakes. Ballard Power Systems, Inc. is a company that focuses on designing, developing, manufacturing, selling, and servicing fuel cell products for various applications. The company focuses on heavy-duty motive, portable power, material handling, and backup power products and markets. There were also ratings and forecasts from several equities analysts on the stock, with a consensus rating of “Hold” and an average price target of $7.25. In terms of financial information, Ballard Power Systems has a market capitalization of $1.48 billion, a P/E ratio of -8.02, and a beta of 1.91. The company had revenue of $20.50 million for the last quarter, with analysts predicting a yearly earnings per share of -0.61.
On Friday, shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) fell 6.3% during trading, hitting a low of $4.77 and last trading at $4.80, with a total of 465,802 shares exchanged.
Wall Street Analysts Predict Future Growth
Several equities analysts recently released reports on the stock. BMO Capital Markets began coverage on Ballard Power Systems shares on December 8th, issuing a “market perform” rating and a $5.50 price objective on the stock. Wells Fargo & Company downgraded shares of Ballard Power Systems from an “equal weight” rating to an “underweight” rating on January 6th, dropping their price objective for the stock from $6.00 to $5.00. National Bankshares also reduced their price objective on shares of Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating on the stock in a report on January 17th. UBS Group began coverage on shares of Ballard Power Systems on December 13th, issuing a “neutral” rating on the stock. Finally, Scotiabank began coverage on shares of Ballard Power Systems on March 9th, issuing a “sector perform” rating and a $7.25 price objective on the stock. According to data from MarketBeat, Ballard Power Systems currently has an average consensus rating of “Hold” from 16 analysts who cover the company’s stock, with two analysts giving the stock a sell rating. The average price target is $7.25.
Financial Information and Figures
Ballard Power Systems has a debt-to-equity ratio of 0.01, a current ratio of 14.44, and a quick ratio of 13.65. The company has a market capitalization of $1.48 billion, a P/E ratio of -8.02, and a beta of 1.91. The firm’s 50-day moving average is $5.94, and its two-hundred day moving average is $5.98.
Institutional Inflows and Outflows
On Friday, institutional investors sold off 10,154,214 shares of Ballard Power Systems, valued at approximately $53,983,000, according to the latest SEC filings. Institutional investors currently own 15.3% of the company’s shares.
Latest Quarterly Earnings
Ballard Power Systems last reported its quarterly earnings data on Friday, March 17th. The technology company reported ($0.12) earnings per share for the quarter, exceeding analysts’ consensus estimates of ($0.15) by $0.03. Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. The company had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $25.62 million. The company’s revenue decreased by 44.1% compared to the same quarter last year. For the current year, analysts predict that Ballard Power Systems will post earnings per share of -0.61.
During the third and fourth quarters, several hedge funds purchased and sold shares of Ballard Power Systems. Vanguard Group Inc. increased its stake in the company by 2.8%, owning 8,604,637 shares valued at $52,660,000 after acquiring an additional 237,435 shares. Legal & General Group Plc raised its stake by 31.3% during the fourth quarter, owning 4,253,396 shares valued at $20,342,000 after acquiring an additional 1,014,539 shares. Norges Bank purchased a new stake in the fourth quarter valued at $17,983,000. Morgan Stanley increased its stake by 20.9% during the fourth quarter, owning 3,688,259 shares valued at $17,667,000 after acquiring an additional 638,824 shares. Allianz Asset Management GmbH raised its stake by 1.0% during the third quarter, owning 3,374,506 shares valued at $20,778,000 after acquiring an additional 32,634 shares. Institutional investors now own 31.97% of the company’s stock.
About Ballard Power Systems
Ballard Power Systems, Inc. is a company that designs, develops, manufactures, sells, and services fuel cell products for various applications. The company focuses on heavy-duty motive, portable power, material handling, and backup power products and markets.
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