Credit Agricole S A Purchases 10,800 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Credit Agricole S A raised its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 302,100 shares of the technology company’s stock after acquiring an additional 10,800 shares during the quarter. Credit Agricole S A owned about 0.10% of Ballard Power Systems worth $3,795,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. abrdn plc boosted its position in shares of Ballard Power Systems by 562.8% during the 4th quarter. abrdn plc now owns 274,208 shares of the technology company’s stock worth $3,445,000 after purchasing an additional 232,839 shares in the last quarter. Hilltop Holdings Inc. bought a new position in shares of Ballard Power Systems during the 4th quarter worth about $289,000. Nicola Wealth Management LTD. boosted its position in shares of Ballard Power Systems by 27.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 357,000 shares of the technology company’s stock worth $4,474,000 after purchasing an additional 77,000 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Ballard Power Systems by 67.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,374 shares of the technology company’s stock worth $80,000 after purchasing an additional 2,570 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Ballard Power Systems by 918.3% during the 3rd quarter. BlackRock Inc. now owns 5,784,250 shares of the technology company’s stock worth $81,268,000 after purchasing an additional 5,216,236 shares in the last quarter. 35.47% of the stock is currently owned by institutional investors.

BLDP has been the topic of a number of research analyst reports. TD Securities cut their price objective on shares of Ballard Power Systems from $20.00 to $17.00 and set a “speculative buy” rating on the stock in a research report on Tuesday, March 15th. National Bank Financial lowered their target price on shares of Ballard Power Systems from $20.00 to $14.00 and set an “outperform” rating on the stock in a report on Tuesday, March 15th. Susquehanna upped their target price on shares of Ballard Power Systems from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, March 10th. Zacks Investment Research upgraded shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Monday, May 16th. Finally, BMO Capital Markets lowered shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $23.00 to $10.00 in a report on Monday, February 7th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Ballard Power Systems has an average rating of “Hold” and a consensus price target of $13.36.

Ballard Power Systems stock opened at $7.30 on Friday. Ballard Power Systems Inc. has a twelve month low of $5.80 and a twelve month high of $19.66. The firm has a 50 day moving average price of $8.85 and a 200-day moving average price of $10.69. The company has a market capitalization of $2.18 billion, a P/E ratio of -15.87 and a beta of 1.70. The company has a quick ratio of 14.61, a current ratio of 15.36 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last released its quarterly earnings data on Monday, May 9th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $21.00 million during the quarter, compared to the consensus estimate of $24.88 million. Ballard Power Systems had a negative return on equity of 10.21% and a negative net margin of 126.91%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted ($0.06) earnings per share. Equities analysts expect that Ballard Power Systems Inc. will post -0.53 EPS for the current fiscal year.

Ballard Power Systems Profile (Get Rating)

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.

Further Reading

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.