Ballard Power Systems, Inc. $BLDP Shares Bought by TD Asset Management Inc

TD Asset Management Inc boosted its stake in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 12.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 331,557 shares of the technology company’s stock after purchasing an additional 37,557 shares during the period. TD Asset Management Inc’s holdings in Ballard Power Systems were worth $530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BLDP. Mirae Asset Global Investments Co. Ltd. grew its position in Ballard Power Systems by 39.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 385,643 shares of the technology company’s stock worth $440,000 after purchasing an additional 108,364 shares during the period. Penserra Capital Management LLC grew its position in Ballard Power Systems by 10.6% during the 1st quarter. Penserra Capital Management LLC now owns 1,099,554 shares of the technology company’s stock worth $1,209,000 after purchasing an additional 105,153 shares during the period. Alps Advisors Inc. boosted its stake in shares of Ballard Power Systems by 2.1% during the 1st quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company’s stock worth $437,000 after acquiring an additional 8,265 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Ballard Power Systems by 8.5% during the 1st quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company’s stock worth $136,000 after acquiring an additional 9,626 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in shares of Ballard Power Systems during the 1st quarter worth about $171,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $3.28 on Friday. The firm has a market capitalization of $985.90 million, a PE ratio of -3.31 and a beta of 1.80. Ballard Power Systems, Inc. has a twelve month low of $1.00 and a twelve month high of $4.10. The firm’s 50-day moving average price is $2.65 and its 200 day moving average price is $1.91. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. The firm had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. On average, sell-side analysts predict that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BLDP shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Wednesday, October 8th. UBS Group increased their target price on shares of Ballard Power Systems from $1.40 to $3.50 and gave the stock a “neutral” rating in a research note on Wednesday. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Monday, August 11th. BMO Capital Markets increased their target price on shares of Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a research note on Tuesday, August 12th. Finally, HSBC set a $3.40 target price on shares of Ballard Power Systems in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Ballard Power Systems presently has an average rating of “Reduce” and an average price target of $2.00.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.