Bank of America Corp DE Cuts Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Bank of America Corp DE lessened its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 48.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,051 shares of the technology company's stock after selling 277,400 shares during the period. Bank of America Corp DE owned 0.10% of Ballard Power Systems worth $481,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. National Bank of Canada FI increased its stake in Ballard Power Systems by 14.7% in the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock worth $120,000 after acquiring an additional 9,287 shares during the last quarter. Itau Unibanco Holding S.A. increased its stake in Ballard Power Systems by 44.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after acquiring an additional 15,160 shares during the last quarter. Raymond James Financial Inc. bought a new position in Ballard Power Systems in the 4th quarter worth about $27,000. Headlands Technologies LLC bought a new position in Ballard Power Systems in the 4th quarter worth about $52,000. Finally, Aristides Capital LLC bought a new position in shares of Ballard Power Systems during the 4th quarter valued at about $217,000. Hedge funds and other institutional investors own 28.02% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on BLDP shares. National Bankshares reduced their price objective on Ballard Power Systems from $2.60 to $2.00 and set a "sector perform" rating on the stock in a research report on Friday, March 14th. HSBC dropped their target price on Ballard Power Systems from $1.90 to $1.40 and set a "hold" rating for the company in a report on Friday, March 14th. Raymond James dropped their price objective on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating for the company in a report on Friday, March 14th. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Finally, Susquehanna dropped their price objective on Ballard Power Systems from $1.40 to $1.30 and set a "neutral" rating for the company in a report on Monday, April 14th. Seven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Ballard Power Systems has an average rating of "Hold" and a consensus target price of $2.09.

Ballard Power Systems Trading Down 1.8%

Shares of NASDAQ:BLDP traded down $0.03 during trading on Friday, hitting $1.64. The company had a trading volume of 9,630,281 shares, compared to its average volume of 6,369,597. Ballard Power Systems Inc. has a one year low of $1.00 and a one year high of $2.82. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The stock has a market cap of $491.75 million, a price-to-earnings ratio of -1.49 and a beta of 1.68. The company has a fifty day simple moving average of $1.32 and a two-hundred day simple moving average of $1.40.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.05. The firm had revenue of $14.76 million during the quarter, compared to analyst estimates of $16.82 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. As a group, equities analysts forecast that Ballard Power Systems Inc. will post -0.54 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.