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

UBS Group AG trimmed its stake in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 17.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,825,009 shares of the technology company’s stock after selling 609,471 shares during the quarter. UBS Group AG’s holdings in Ballard Power Systems were worth $7,176,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legal & General Group Plc raised its stake in shares of Ballard Power Systems by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock valued at $36,486,000 after purchasing an additional 326,505 shares during the period. Two Sigma Investments LP raised its stake in shares of Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock valued at $17,089,000 after purchasing an additional 657,107 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after purchasing an additional 829,012 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in shares of Ballard Power Systems by 1.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 2,766,262 shares of the technology company’s stock valued at $7,580,000 after purchasing an additional 45,379 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Ballard Power Systems by 43.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,345,177 shares of the technology company’s stock valued at $6,379,000 after purchasing an additional 714,647 shares during the period. 28.02% of the stock is currently owned by institutional investors.

Ballard Power Systems Trading Down 2.7%

BLDP opened at $4.33 on Tuesday. The business has a 50 day simple moving average of $3.01 and a two-hundred day simple moving average of $2.78. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -16.04 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.70 and a quick ratio of 9.90. Ballard Power Systems, Inc. has a one year low of $1.24 and a one year high of $4.86.

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, beating analysts’ consensus estimates of ($0.06) by $0.02. The business had revenue of $18.98 million during the quarter, compared to analyst estimates of $19.88 million. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%. Analysts predict that Ballard Power Systems, Inc. will post -0.19 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on BLDP shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Monday, April 20th. Lake Street Capital upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $3.00 to $5.00 in a report on Tuesday, May 5th. Wells Fargo & Company increased 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. ATB Cormark Capital Markets increased their target price on Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Finally, TD Cowen increased their target price on Ballard Power Systems from $2.50 to $4.25 and gave the company a “hold” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $3.51.

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.