Legal & General Group Plc Lowers Stake in Ballard Power Systems, Inc. $BLDP

Legal & General Group Plc lessened its position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 52.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,430,198 shares of the technology company’s stock after selling 7,029,531 shares during the period. Legal & General Group Plc owned approximately 2.14% of Ballard Power Systems worth $16,405,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP lifted its stake in shares of Ballard Power Systems by 11.7% during the third quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after purchasing an additional 657,107 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its stake in shares of Ballard Power Systems by 1.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 2,766,262 shares of the technology company’s stock worth $7,580,000 after purchasing an additional 45,379 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Ballard Power Systems by 43.8% during the third quarter. Van ECK Associates Corp now owns 2,345,177 shares of the technology company’s stock worth $6,379,000 after purchasing an additional 714,647 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock worth $1,635,000 after purchasing an additional 534,834 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Trading Up 0.2%

NASDAQ:BLDP opened at $6.30 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. Ballard Power Systems, Inc. has a one year low of $1.24 and a one year high of $6.43. The business’s 50-day simple moving average is $3.67 and its 200 day simple moving average is $2.93. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -23.33 and a beta of 2.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $19.88 million. As a group, sell-side analysts predict that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th. National Bank Financial boosted their price objective on Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. ATB Cormark Capital Markets boosted their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Wells Fargo & Company boosted their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research note on Friday, March 27th. Finally, Susquehanna boosted their price objective on Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $3.59.

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.