Vontobel Holding Ltd. Acquires 321,624 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Vontobel Holding Ltd. increased its holdings in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,086,570 shares of the technology company’s stock after purchasing an additional 321,624 shares during the quarter. Vontobel Holding Ltd. owned 0.70% of Ballard Power Systems worth $7,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BLDP. JPMorgan Chase & Co. lifted its holdings in Ballard Power Systems by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 135,193 shares of the technology company’s stock valued at $1,574,000 after acquiring an additional 5,739 shares during the period. AlphaCrest Capital Management LLC bought a new position in Ballard Power Systems in the first quarter valued at about $393,000. Dimensional Fund Advisors LP bought a new position in Ballard Power Systems in the first quarter valued at about $3,379,000. Aviva PLC lifted its holdings in Ballard Power Systems by 981.9% in the first quarter. Aviva PLC now owns 184,341 shares of the technology company’s stock valued at $2,149,000 after acquiring an additional 167,303 shares during the period. Finally, Allianz Asset Management GmbH lifted its holdings in Ballard Power Systems by 38.4% in the first quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock valued at $37,855,000 after acquiring an additional 902,351 shares during the period. 28.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BLDP has been the topic of a number of recent research reports. Citigroup lowered their target price on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Jefferies Financial Group reduced their price target on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Piper Sandler reduced their price target on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. TD Securities reduced their price target on Ballard Power Systems from $3.75 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, March 12th. Finally, Raymond James reduced their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $3.97.

Ballard Power Systems Stock Performance

NASDAQ:BLDP opened at $2.72 on Wednesday. The stock has a 50-day moving average price of $3.03 and a 200 day moving average price of $3.33. Ballard Power Systems Inc. has a 12-month low of $2.66 and a 12-month high of $5.68. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The firm had revenue of $46.80 million for the quarter, compared to the consensus estimate of $26.32 million. During the same period in the previous year, the company posted ($0.12) earnings per share. Ballard Power Systems’s quarterly revenue was up 131.7% on a year-over-year basis. On average, sell-side analysts expect that Ballard Power Systems Inc. will post -0.51 earnings per share for the current fiscal year.

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.