First Trust Advisors LP reduced its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 154,122 shares of the company’s stock after selling 1,810 shares during the period. First Trust Advisors LP owned approximately 0.10% of Ballard Power Systems worth $193,000 at the end of the most recent reporting period.
Separately, Renaissance Technologies LLC boosted its position in Ballard Power Systems by 10.3% in the first quarter. Renaissance Technologies LLC now owns 326,300 shares of the company’s stock worth $455,000 after buying an additional 30,600 shares during the last quarter. 4.01% of the stock is owned by institutional investors.
Shares of Ballard Power Systems Inc. (NASDAQ:BLDP) traded down 0.44% during mid-day trading on Tuesday, reaching $2.24. 187,169 shares of the company traded hands. The company’s market capitalization is $351.56 million. The firm’s 50 day moving average price is $2.15 and its 200-day moving average price is $1.69. Ballard Power Systems Inc. has a 52-week low of $1.11 and a 52-week high of $2.53.
Ballard Power Systems (NASDAQ:BLDP) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). The firm earned $17.60 million during the quarter, compared to analysts’ expectations of $18.32 million. Ballard Power Systems had a negative return on equity of 19.49% and a negative net margin of 30.51%. Equities analysts predict that Ballard Power Systems Inc. will post ($0.15) earnings per share for the current fiscal year.
Several analysts have recently issued reports on BLDP shares. Zacks Investment Research raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating and set a $1.50 price target on the stock in a research report on Wednesday, June 29th. Roth Capital reissued a “buy” rating and set a $2.50 price target on shares of Ballard Power Systems in a research report on Sunday, August 14th. Finally, FBR & Co reissued a “hold” rating and set a $1.50 price target on shares of Ballard Power Systems in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Ballard Power Systems currently has a consensus rating of “Buy” and an average target price of $2.54.
Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of fuel cell products. The Company is focused on its power product markets of heavy-duty motive, portable power, material handling and telecom backup power, as well as the delivery of technology solutions, including engineering services, and the license and sale of its intellectual property portfolio and fundamental knowledge for fuel cell applications.