Toronto Dominion Bank Raises Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Toronto Dominion Bank lifted its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,576 shares of the technology company’s stock after buying an additional 1,560 shares during the period. Toronto Dominion Bank’s holdings in Ballard Power Systems were worth $233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Ballard Power Systems in the second quarter worth about $30,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Ballard Power Systems in the second quarter worth about $41,000. Daiwa Securities Group Inc. purchased a new stake in shares of Ballard Power Systems in the third quarter worth about $53,000. Exchange Traded Concepts LLC boosted its position in shares of Ballard Power Systems by 66.7% in the third quarter. Exchange Traded Concepts LLC now owns 5,169 shares of the technology company’s stock worth $73,000 after buying an additional 2,069 shares during the period. Finally, Shell Asset Management Co. boosted its position in shares of Ballard Power Systems by 465.0% in the second quarter. Shell Asset Management Co. now owns 7,678 shares of the technology company’s stock worth $139,000 after buying an additional 6,319 shares during the period. 27.44% of the stock is owned by institutional investors.

Several research analysts recently commented on the company. B. Riley cut their price target on Ballard Power Systems from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, November 10th. Sumitomo Mitsui Financial Group assumed coverage on Ballard Power Systems in a research note on Thursday, November 4th. They issued a “neutral” rating and a $20.00 price target on the stock. Piper Sandler cut their price target on Ballard Power Systems from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, September 23rd. KeyCorp assumed coverage on Ballard Power Systems in a research note on Wednesday, January 5th. They issued a “sector weight” rating on the stock. Finally, Raymond James set a $25.00 price target on Ballard Power Systems and gave the stock an “outperform” rating in a research note on Tuesday, November 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Ballard Power Systems has a consensus rating of “Hold” and an average target price of $23.67.

NASDAQ:BLDP opened at $10.98 on Friday. The stock has a 50 day moving average of $13.97 and a 200-day moving average of $15.27. Ballard Power Systems Inc. has a 52 week low of $10.69 and a 52 week high of $42.28. The company has a quick ratio of 20.12, a current ratio of 20.92 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Sunday, November 7th. The technology company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.04). The company had revenue of $25.20 million for the quarter, compared to the consensus estimate of $25.21 million. Ballard Power Systems had a negative net margin of 88.24% and a negative return on equity of 6.71%. During the same period last year, the company posted ($0.05) earnings per share. As a group, sell-side analysts anticipate that Ballard Power Systems Inc. will post -0.31 earnings per share for the current fiscal year.

Ballard Power Systems Profile

Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

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Institutional Ownership by Quarter for Ballard Power Systems (NASDAQ:BLDP)

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