D. E. Shaw & Co. Inc. Sells 93,612 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

D. E. Shaw & Co. Inc. cut its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 237,997 shares of the technology company’s stock after selling 93,612 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.08% of Ballard Power Systems worth $395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Invesco Ltd. increased its position in shares of Ballard Power Systems by 5.6% during the fourth quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock worth $5,973,000 after acquiring an additional 191,582 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Ballard Power Systems by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of Ballard Power Systems by 19.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 252,524 shares in the last quarter. Portolan Capital Management LLC bought a new stake in shares of Ballard Power Systems during the fourth quarter worth about $2,508,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Ballard Power Systems by 71.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock worth $1,695,000 after acquiring an additional 425,374 shares in the last quarter. 28.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. UBS Group decreased their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a research report on Monday, May 12th. HSBC reduced their price objective on shares of Ballard Power Systems from $1.90 to $1.40 and set a “hold” rating for the company in a research report on Friday, March 14th. Wall Street Zen raised shares of Ballard Power Systems to a “sell” rating in a research report on Thursday, May 8th. Susquehanna reduced their price objective on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research report on Monday, April 14th. Finally, Roth Mkm reduced their price objective on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Friday, March 14th. Seven 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.09.

Ballard Power Systems Stock Up 4.7%

Ballard Power Systems stock opened at $1.35 on Tuesday. Ballard Power Systems Inc. has a twelve month low of $1.00 and a twelve month high of $3.23. The firm has a 50 day moving average price of $1.23 and a 200-day moving average price of $1.39. The company has a market capitalization of $404.77 million, a P/E ratio of -1.23 and a beta of 1.68. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.05. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The firm had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. As a group, equities analysts predict that Ballard Power Systems Inc. will post -0.54 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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.