UBS Group AG Sells 609,471 Shares of Ballard Power Systems, Inc. $BLDP

UBS Group AG trimmed its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,825,009 shares of the technology company’s stock after selling 609,471 shares during the period. UBS Group AG owned 0.94% of Ballard Power Systems worth $7,176,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Amundi raised its holdings in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Ballard Power Systems during the 3rd quarter worth $43,000. Mackenzie Financial Corp increased its position in shares of Ballard Power Systems by 12.4% in the third quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock worth $397,000 after purchasing an additional 16,204 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after purchasing an additional 19,170 shares during the period. Finally, Scientech Research LLC raised its stake in Ballard Power Systems by 162.4% in the third quarter. Scientech Research LLC now owns 35,237 shares of the technology company’s stock valued at $96,000 after purchasing an additional 21,808 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th. BMO Capital Markets increased their price target on shares of Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a research report on Wednesday, May 6th. ATB Cormark Capital Markets boosted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their target price on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a report on Friday, March 27th. Finally, TD Cowen boosted their price target on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $3.51.

Ballard Power Systems Trading Down 2.7%

Shares of Ballard Power Systems stock opened at $4.33 on Tuesday. The firm has a market capitalization of $1.31 billion, a PE ratio of -16.04 and a beta of 1.94. The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $3.01 and its 200 day moving average is $2.78. Ballard Power Systems, Inc. has a 1 year low of $1.24 and a 1 year high of $4.86.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%.The business had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. Equities research analysts forecast that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

Ballard Power Systems Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.