Daiwa Securities Group Inc. Has $38,000 Stock Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Daiwa Securities Group Inc. reduced its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 46.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,262 shares of the technology company’s stock after selling 8,886 shares during the period. Daiwa Securities Group Inc.’s holdings in Ballard Power Systems were worth $38,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp boosted its stake in Ballard Power Systems by 2.6% in the third quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company’s stock valued at $393,000 after buying an additional 2,974 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Ballard Power Systems by 37.2% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 13,831 shares of the technology company’s stock valued at $51,000 after buying an additional 3,753 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Ballard Power Systems by 0.9% in the third quarter. Public Sector Pension Investment Board now owns 542,101 shares of the technology company’s stock valued at $2,005,000 after buying an additional 4,677 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Ballard Power Systems by 2.8% in the third quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company’s stock valued at $893,000 after buying an additional 6,494 shares in the last quarter. Finally, FNY Investment Advisers LLC boosted its stake in Ballard Power Systems by 5,000.0% in the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock valued at $37,000 after buying an additional 10,000 shares in the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Stock Up 5.3 %

Shares of BLDP opened at $2.60 on Monday. Ballard Power Systems Inc. has a 1 year low of $2.42 and a 1 year high of $5.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. The business has a 50-day moving average of $2.93 and a 200-day moving average of $3.28.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, March 11th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The business had revenue of $46.80 million during the quarter, compared to the consensus estimate of $26.32 million. Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The company’s revenue for the quarter was up 131.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Equities research analysts anticipate that Ballard Power Systems Inc. will post -0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on BLDP. TD Securities reduced their price objective on Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday. Piper Sandler dropped their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Raymond James dropped their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group dropped their target price on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Finally, Citigroup dropped their target price on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.