Mirae Asset Global Investments Co. Ltd. Has $8.77 Million Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

Mirae Asset Global Investments Co. Ltd. lessened its stake in Ballard Power Systems Inc. (NASDAQ:BLDPFree Report) (TSE:BLD) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,153,605 shares of the technology company’s stock after selling 524,262 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 1.05% of Ballard Power Systems worth $8,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of BLDP. Public Sector Pension Investment Board raised 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 purchasing an additional 4,677 shares in the last quarter. Vanguard Group Inc. raised its stake in Ballard Power Systems by 1.7% during the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock worth $33,476,000 after acquiring an additional 148,321 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ballard Power Systems during the fourth quarter worth about $373,000. FNY Investment Advisers LLC raised its stake in Ballard Power Systems by 5,000.0% during the fourth quarter. FNY Investment Advisers LLC now owns 10,200 shares of the technology company’s stock worth $37,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Ballard Power Systems by 116.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 35,861 shares of the technology company’s stock worth $133,000 after acquiring an additional 19,284 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Wall Street Analyst Weigh In

BLDP has been the subject of several research analyst reports. HSBC lowered their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Jefferies Financial Group lowered their target price on Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research note on Wednesday, May 8th. Piper Sandler reduced their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Raymond James reduced their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Finally, Wells Fargo & Company reduced their price target on Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Thursday, May 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $3.49.

Check Out Our Latest Report on BLDP

Ballard Power Systems Price Performance

Ballard Power Systems stock opened at $2.33 on Tuesday. Ballard Power Systems Inc. has a 52-week low of $2.14 and a 52-week high of $5.11. The stock’s 50 day moving average price is $2.77 and its two-hundred day moving average price is $3.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Ballard Power Systems (NASDAQ:BLDPGet Free Report) (TSE:BLD) last posted its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. Ballard Power Systems’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.11) earnings per share. As a group, equities analysts forecast that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

About Ballard Power Systems

(Free Report)

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.

Featured Stories

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

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.