Raymond James Financial Services Advisors Inc. Boosts Stake in Ballard Power Systems Inc. (NASDAQ:BLDP)

Raymond James Financial Services Advisors Inc. increased its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 116.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 35,861 shares of the technology company’s stock after acquiring an additional 19,284 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Ballard Power Systems were worth $133,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp raised its position in Ballard Power Systems by 2.6% in the 3rd quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock worth $393,000 after purchasing an additional 2,974 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in 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 purchasing an additional 3,753 shares during the period. Public Sector Pension Investment Board raised its position in Ballard Power Systems by 0.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock worth $2,005,000 after purchasing an additional 4,677 shares during the period. CIBC Asset Management Inc raised its position in Ballard Power Systems by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock worth $893,000 after purchasing an additional 6,494 shares during the period. Finally, FNY Investment Advisers LLC raised its position in 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 purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Down 2.8 %

Shares of BLDP opened at $2.47 on Friday. The firm’s 50-day moving average price is $2.95 and its 200-day moving average price is $3.29. The firm has a market capitalization of $739.25 million, a price-to-earnings ratio of -4.19 and a beta of 1.66. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. Ballard Power Systems Inc. has a 1-year low of $2.42 and a 1-year high of $5.68.

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 the consensus estimate of ($0.12) by ($0.04). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $46.80 million for the quarter, compared to the consensus estimate of $26.32 million. During the same period in the previous year, the firm earned ($0.12) EPS. The company’s revenue was up 131.7% on a year-over-year basis. Sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Raymond James decreased 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 research report on Wednesday, March 13th. TD Securities cut their price target on shares of Ballard Power Systems from $3.00 to $2.50 in a report on Thursday. Piper Sandler cut their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Jefferies Financial Group cut their price target on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Finally, Citigroup cut their price target 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 issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Ballard Power Systems has an average rating of “Hold” and an average target price of $3.94.

About Ballard Power Systems

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.