Westwood Holdings Group Inc. Acquires Shares of 21,099 Ballard Power Systems Inc. (NASDAQ:BLDP)

Westwood Holdings Group Inc. acquired a new stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 21,099 shares of the technology company’s stock, valued at approximately $59,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Toronto Dominion Bank grew its holdings in shares of Ballard Power Systems by 182.8% in the first quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock valued at $96,000 after purchasing an additional 22,273 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Ballard Power Systems by 7.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock worth $1,572,000 after buying an additional 38,662 shares during the period. Endowment Wealth Management Inc. purchased a new position in Ballard Power Systems during the first quarter worth $28,000. BNP Paribas Financial Markets boosted its stake in Ballard Power Systems by 4.1% during the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after buying an additional 8,549 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Ballard Power Systems by 19.8% during the first quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after buying an additional 353,098 shares during the period. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Price Performance

BLDP stock opened at $2.30 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66. The business has a 50-day moving average price of $2.62 and a 200 day moving average price of $2.88. Ballard Power Systems Inc. has a 1-year low of $2.14 and a 1-year high of $5.11.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The firm had revenue of $14.50 million during the quarter, compared to the consensus estimate of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, equities research analysts anticipate that Ballard Power Systems Inc. will post -0.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BLDP has been the subject of several recent analyst reports. Wells Fargo & Company dropped their price objective on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Thursday, May 9th. Truist Financial reaffirmed a “hold” rating and set a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. National Bankshares dropped their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 8th. TD Securities lifted their target price on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, HSBC decreased their target price on Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.49.

Ballard Power Systems 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.