Harel Insurance Investments & Financial Services Ltd. Purchases 16,978 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Harel Insurance Investments & Financial Services Ltd. lifted its stake in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 18.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,839 shares of the technology company’s stock after buying an additional 16,978 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Ballard Power Systems were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BLDP. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ballard Power Systems by 11.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 865,353 shares of the technology company’s stock valued at $3,222,000 after buying an additional 89,643 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Ballard Power Systems in the fourth quarter valued at about $192,000. Jump Financial LLC purchased a new position in shares of Ballard Power Systems in the fourth quarter valued at about $1,086,000. CIBC Asset Management Inc boosted its stake in shares of Ballard Power Systems by 2.9% during the 4th quarter. CIBC Asset Management Inc now owns 248,887 shares of the technology company’s stock valued at $925,000 after purchasing an additional 7,060 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Ballard Power Systems by 19.8% during the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock valued at $5,936,000 after purchasing an additional 353,098 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BLDP shares. Susquehanna dropped their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 13th. Wells Fargo & Company dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, August 13th. Truist Financial dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. TD Securities lowered shares of Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their target price for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, National Bankshares decreased their price target on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $3.11.

Ballard Power Systems Stock Performance

Shares of BLDP stock traded down $0.07 during trading hours on Tuesday, hitting $1.84. The stock had a trading volume of 580,861 shares, compared to its average volume of 2,797,058. The firm has a market capitalization of $549.42 million, a PE ratio of -3.11 and a beta of 1.77. Ballard Power Systems Inc. has a twelve month low of $1.77 and a twelve month high of $4.34. The stock’s 50 day moving average is $2.29 and its 200 day moving average is $2.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share. As a group, research analysts forecast that Ballard Power Systems Inc. will post -0.48 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 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.