Hsbc Holdings PLC Takes Position in Ballard Power Systems, Inc. $BLDP

Hsbc Holdings PLC bought a new position in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 254,913 shares of the technology company’s stock, valued at approximately $992,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Ballard Power Systems by 228.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock worth $25,000 after acquiring an additional 6,952 shares during the last quarter. Swiss Life Asset Management Ltd purchased a new position in shares of Ballard Power Systems in the 4th quarter worth about $26,000. Ground Swell Capital LLC acquired a new position in shares of Ballard Power Systems in the 1st quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at about $28,000. Finally, Cetera Investment Advisers purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $2.24 on Wednesday. Ballard Power Systems, Inc. has a 1-year low of $1.83 and a 1-year high of $6.57. The business has a 50-day moving average of $2.86 and a 200-day moving average of $3.24. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The company has a market capitalization of $786.44 million, a price-to-earnings ratio of -8.62 and a beta of 2.27.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.03). The company had revenue of $20.34 million during the quarter, compared to analyst estimates of $25.24 million. Ballard Power Systems had a negative net margin of 72.78% and a negative return on equity of 13.23%. On average, equities analysts anticipate that Ballard Power Systems, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

BLDP has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price target for the company from $3.00 to $5.00 in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 20th. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.50.

Ballard Power Systems Company 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.