Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Ballard Power Systems Inc. (NASDAQ:BLDP)

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Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 15.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 80,196 shares of the technology company’s stock after acquiring an additional 10,731 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ballard Power Systems were worth $1,208,000 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 holdings in shares of Ballard Power Systems by 46.8% in the 1st quarter. Morgan Stanley now owns 2,575,291 shares of the technology company’s stock valued at $19,598,000 after buying an additional 820,608 shares in the last quarter. Marshall Wace LLP boosted its stake in Ballard Power Systems by 81.3% in the second quarter. Marshall Wace LLP now owns 1,727,930 shares of the technology company’s stock valued at $26,607,000 after acquiring an additional 774,921 shares in the last quarter. Alps Advisors Inc. boosted its stake in Ballard Power Systems by 44.3% in the third quarter. Alps Advisors Inc. now owns 974,716 shares of the technology company’s stock valued at $14,718,000 after acquiring an additional 299,459 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Ballard Power Systems by 72.6% during the third quarter. First Trust Advisors LP now owns 801,515 shares of the technology company’s stock worth $12,103,000 after purchasing an additional 337,109 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Ballard Power Systems by 9.9% during the second quarter. TD Asset Management Inc. now owns 538,318 shares of the technology company’s stock worth $8,256,000 after purchasing an additional 48,469 shares in the last quarter. 9.16% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ BLDP opened at $19.29 on Friday. The company has a quick ratio of 8.36, a current ratio of 9.10 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $5.03 billion, a P/E ratio of -96.45 and a beta of 1.54. Ballard Power Systems Inc. has a 52-week low of $5.50 and a 52-week high of $21.61. The firm has a 50-day moving average price of $16.60 and a 200 day moving average price of $14.89.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Thursday, November 5th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). Ballard Power Systems had a negative return on equity of 14.00% and a negative net margin of 40.04%. On average, equities research analysts expect that Ballard Power Systems Inc. will post -0.19 earnings per share for the current fiscal year.

BLDP has been the topic of several research analyst reports. BidaskClub lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, October 26th. National Bank of Canada (NA.TO) raised shares of Ballard Power Systems to an “outperform” rating in a report on Thursday, August 20th. Lake Street Capital increased their price target on shares of Ballard Power Systems from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. HC Wainwright cut shares of Ballard Power Systems from a “buy” rating to a “neutral” rating in a report on Tuesday, November 10th. Finally, TD Securities raised Ballard Power Systems from a “hold” rating to a “speculative buy” rating and raised their price target for the stock from $14.00 to $20.00 in a report on Monday, August 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. Ballard Power Systems has an average rating of “Buy” and a consensus target price of $21.13.

Ballard Power Systems Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles (UAV), and material handling products.

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Institutional Ownership by Quarter for Ballard Power Systems (NASDAQ:BLDP)

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