Scientech Research LLC Invests $52,000 in Ballard Power Systems Inc. (NASDAQ:BLDP)

Scientech Research LLC acquired a new position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the 2nd quarter, Holdings Channel reports. The fund acquired 23,303 shares of the technology company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Decade Renewable Partners LP acquired a new position in shares of Ballard Power Systems during the second quarter worth about $450,000. Itau Unibanco Holding S.A. acquired a new position in shares of Ballard Power Systems during the second quarter worth about $91,000. MQS Management LLC acquired a new position in shares of Ballard Power Systems during the second quarter worth about $79,000. XTX Topco Ltd acquired a new position in Ballard Power Systems during the second quarter valued at approximately $154,000. Finally, Hsbc Holdings PLC boosted its position in Ballard Power Systems by 76.6% during the second quarter. Hsbc Holdings PLC now owns 116,616 shares of the technology company’s stock valued at $263,000 after purchasing an additional 50,592 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citigroup reduced their price target on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research report on Monday. Wells Fargo & Company reduced their price target on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their price target for the company from $2.50 to $1.50 in a research report on Monday, August 12th. CIBC reissued an “underperformer” rating and set a $1.60 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Finally, BMO Capital Markets cut their price objective on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.01.

Ballard Power Systems Price Performance

Shares of NASDAQ BLDP opened at $1.76 on Wednesday. The firm has a market cap of $526.96 million, a P/E ratio of -2.84 and a beta of 1.78. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. Ballard Power Systems Inc. has a 1-year low of $1.61 and a 1-year high of $4.02. The business’s 50 day moving average is $1.88 and its 200-day moving average is $2.45.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) earnings per share. Equities research analysts predict that Ballard Power Systems Inc. will post -0.48 earnings per share for the current year.

About Ballard Power Systems

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.