Ballard Power Systems, Inc. (NASDAQ:BLDP) Shares Sold by XTX Topco Ltd

Key Points

• XTX Topco Ltd reduced its stake in Ballard Power Systems by 61.9%, selling 324,128 shares and now holding 199,813 shares valued at $220,000 as of its latest SEC filing.
• Several other investors, including Banque Cantonale Vaudoise and Mirae Asset Global Investments, made notable adjustments to their holdings in Ballard Power Systems during the first quarter.
• Ballard Power Systems reported an earnings per share of ($0.08), exceeding analysts' expectations and had quarterly revenues of $17.98 million, slightly above the anticipated figures.

XTX Topco Ltd cut its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 61.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,813 shares of the technology company's stock after selling 324,128 shares during the period. XTX Topco Ltd owned about 0.07% of Ballard Power Systems worth $220,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BLDP. Raymond James Financial Inc. purchased a new stake in Ballard Power Systems during the fourth quarter worth approximately $27,000. Itau Unibanco Holding S.A. boosted its holdings in shares of 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 valued at $82,000 after buying an additional 15,160 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at $101,000. Toronto Dominion Bank raised its stake in Ballard Power Systems by 181.5% during the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company's stock worth $131,000 after acquiring an additional 50,695 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Ballard Power Systems by 113.0% in the fourth quarter. ProShare Advisors LLC now owns 82,921 shares of the technology company's stock valued at $138,000 after acquiring an additional 43,998 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded up $0.17 on Friday, hitting $2.00. 7,932,205 shares of the company's stock were exchanged, compared to its average volume of 5,774,703. The firm has a market cap of $599.74 million, a price-to-earnings ratio of -2.02 and a beta of 1.76. The firm's 50-day moving average price is $1.77 and its two-hundred day moving average price is $1.45. Ballard Power Systems, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.13.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping 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 return on equity of 21.52% and a negative net margin of 409.35%. On average, research analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BLDP. BMO Capital Markets lifted their target price on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research report on Tuesday, August 12th. Wall Street Zen raised Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. UBS Group lowered their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Susquehanna upped their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. Five investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $1.51.

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.