Shell Asset Management Co. Has $162,000 Stock Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

Shell Asset Management Co. lifted its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 224.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 25,644 shares of the technology company’s stock after buying an additional 17,729 shares during the period. Shell Asset Management Co.’s holdings in Ballard Power Systems were worth $162,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. DekaBank Deutsche Girozentrale raised its stake in Ballard Power Systems by 4.5% during the first quarter. DekaBank Deutsche Girozentrale now owns 35,250 shares of the technology company’s stock worth $414,000 after acquiring an additional 1,503 shares in the last quarter. abrdn plc increased its holdings in Ballard Power Systems by 0.6% in the 1st quarter. abrdn plc now owns 275,864 shares of the technology company’s stock worth $3,263,000 after purchasing an additional 1,656 shares in the last quarter. Fortitude Advisory Group L.L.C. bought a new position in Ballard Power Systems in the first quarter valued at about $25,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Ballard Power Systems by 57.5% during the first quarter. Steward Partners Investment Advisory LLC now owns 7,010 shares of the technology company’s stock valued at $82,000 after purchasing an additional 2,560 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Ballard Power Systems by 45.7% during the first quarter. Daiwa Securities Group Inc. now owns 9,289 shares of the technology company’s stock worth $108,000 after purchasing an additional 2,915 shares during the last quarter. 28.25% of the stock is currently owned by institutional investors.

Ballard Power Systems Trading Up 0.8 %

BLDP opened at $6.25 on Friday. The company has a fifty day moving average price of $6.16 and a two-hundred day moving average price of $6.91. Ballard Power Systems Inc. has a 1-year low of $5.12 and a 1-year high of $17.06. The company has a market cap of $1.86 billion, a P/E ratio of -10.08 and a beta of 1.67. The company has a current ratio of 14.44, a quick ratio of 13.65 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last issued its earnings results on Monday, November 7th. The technology company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). The business had revenue of $21.50 million during the quarter, compared to analyst estimates of $23.94 million. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. The firm’s revenue was down 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS. Analysts predict that Ballard Power Systems Inc. will post -0.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Lake Street Capital dropped their price objective on shares of Ballard Power Systems from $32.00 to $19.00 in a report on Tuesday, November 8th. National Bank Financial lowered shares of Ballard Power Systems from an “outperform” rating to a “sector perform” rating in a report on Tuesday, November 8th. Susquehanna Bancshares reduced their price objective on shares of Ballard Power Systems from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 8th. Truist Financial lowered their target price on Ballard Power Systems from $9.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, October 18th. Finally, National Bankshares lowered Ballard Power Systems from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $12.00 to $8.00 in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, Ballard Power Systems currently has an average rating of “Hold” and a consensus price target of $8.29.

About Ballard Power Systems

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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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Institutional Ownership by Quarter for Ballard Power Systems (NASDAQ:BLDP)

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