APG Asset Management N.V. lessened its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,706 shares of the technology company’s stock after selling 4,000 shares during the period. APG Asset Management N.V. owned approximately 0.11% of Ballard Power Systems worth $3,345,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in Ballard Power Systems by 1.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 445,087 shares of the technology company’s stock valued at $5,180,000 after purchasing an additional 6,208 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in Ballard Power Systems during the first quarter valued at $393,000. Veritable L.P. bought a new stake in Ballard Power Systems during the first quarter valued at $135,000. NN Investment Partners Holdings N.V. raised its holdings in shares of Ballard Power Systems by 10.3% during the first quarter. NN Investment Partners Holdings N.V. now owns 159,524 shares of the technology company’s stock valued at $1,856,000 after purchasing an additional 14,879 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ballard Power Systems by 4.4% during the first quarter. JPMorgan Chase & Co. now owns 135,193 shares of the technology company’s stock valued at $1,574,000 after purchasing an additional 5,739 shares during the period. Institutional investors own 28.25% of the company’s stock.
Analysts Set New Price Targets
BLDP has been the topic of a number of analyst reports. Piper Sandler initiated coverage on shares of Ballard Power Systems in a report on Wednesday, June 8th. They issued a “sell” rating and a $5.00 target price on the stock. Cowen increased their target price on shares of Ballard Power Systems to $9.00 in a research report on Monday, August 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Ballard Power Systems in a report on Thursday, June 2nd. TD Securities raised their price objective on shares of Ballard Power Systems from $11.00 to $12.50 and gave the stock a “speculative buy” rating in a report on Thursday, August 11th. Finally, National Bankshares cut their price target on shares of Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, August 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $12.04.
Ballard Power Systems Trading Up 3.6 %
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last announced its quarterly earnings results on Wednesday, August 10th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The firm had revenue of $20.90 million during the quarter, compared to the consensus estimate of $24.16 million. Ballard Power Systems had a negative return on equity of 12.13% and a negative net margin of 164.44%. Ballard Power Systems’s revenue was down 16.4% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. Sell-side analysts predict that Ballard Power Systems Inc. will post -0.61 EPS 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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.
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