ETF Managers Group LLC lessened its holdings in Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) by 8.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 85,111 shares of the technology company’s stock after selling 7,736 shares during the quarter. ETF Managers Group LLC’s holdings in Ballard Power Systems were worth $256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Morgan Stanley boosted its stake in Ballard Power Systems by 37.4% in the third quarter. Morgan Stanley now owns 780,867 shares of the technology company’s stock valued at $3,356,000 after acquiring an additional 212,364 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Ballard Power Systems by 31.4% in the fourth quarter. First Trust Advisors LP now owns 217,448 shares of the technology company’s stock valued at $520,000 after purchasing an additional 51,926 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Ballard Power Systems by 57.4% in the first quarter. Alps Advisors Inc. now owns 126,222 shares of the technology company’s stock valued at $380,000 after purchasing an additional 46,046 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Ballard Power Systems in the fourth quarter valued at approximately $81,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Ballard Power Systems in the fourth quarter valued at approximately $54,000. 2.59% of the stock is owned by institutional investors and hedge funds.
Shares of Ballard Power Systems stock remained flat at $$3.77 during trading hours on Friday. The stock had a trading volume of 872,400 shares, compared to its average volume of 775,459. Ballard Power Systems Inc has a twelve month low of $2.25 and a twelve month high of $4.62. The firm has a market cap of $868.91 million, a price-to-earnings ratio of -29.00 and a beta of 1.84. The company has a current ratio of 5.35, a quick ratio of 4.67 and a debt-to-equity ratio of 0.06.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, May 1st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. Ballard Power Systems had a negative return on equity of 14.37% and a negative net margin of 36.58%. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $20.63 million. During the same quarter in the prior year, the company earned ($0.03) EPS. Ballard Power Systems’s revenue was down 20.4% on a year-over-year basis. On average, research analysts expect that Ballard Power Systems Inc will post -0.16 earnings per share for the current year.
Several equities analysts have issued reports on BLDP shares. BidaskClub cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, TheStreet raised shares of Ballard Power Systems from a “d” rating to a “c-” rating in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $3.45.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.
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