Dimensional Fund Advisors LP Lowers Stock Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Dimensional Fund Advisors LP reduced its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 16.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,032,996 shares of the technology company's stock after selling 408,424 shares during the period. Dimensional Fund Advisors LP owned approximately 0.68% of Ballard Power Systems worth $4,574,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Daiwa Securities Group Inc. boosted its holdings in shares of Ballard Power Systems by 149.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock valued at $54,000 after acquiring an additional 14,415 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company's stock valued at $1,599,000 after buying an additional 8,154 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ballard Power Systems by 8.8% in the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company's stock valued at $5,224,000 after buying an additional 186,833 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Ballard Power Systems by 18.9% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 106,839 shares of the technology company's stock worth $240,000 after buying an additional 16,978 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Ballard Power Systems during the second quarter worth about $94,000. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Price Performance

Shares of BLDP stock traded down $0.07 during trading hours on Thursday, reaching $1.61. The company had a trading volume of 2,843,754 shares, compared to its average volume of 2,816,727. Ballard Power Systems Inc. has a 12-month low of $1.60 and a 12-month high of $4.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.05 and a current ratio of 10.90. The company has a market capitalization of $482.05 million, a price-to-earnings ratio of -2.60 and a beta of 1.78. The stock has a fifty day moving average of $1.81 and a 200-day moving average of $2.40.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The company had revenue of $16.00 million during the quarter, compared to analysts' expectations of $19.36 million. During the same period in the prior year, the business earned ($0.10) EPS. The firm's quarterly revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that Ballard Power Systems Inc. will post -0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set an "underweight" rating on the stock in a research note on Tuesday, August 13th. Cormark restated a "market perform" rating on shares of Ballard Power Systems in a research report on Monday, September 16th. Truist Financial lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set a "hold" rating on the stock in a research note on Tuesday, August 13th. CIBC restated an "underperformer" rating and issued a $1.60 price target (down previously from $3.50) on shares of Ballard Power Systems in a research note on Tuesday, August 13th. Finally, Susquehanna dropped their price objective on Ballard Power Systems from $3.00 to $2.00 and set a "neutral" rating on the stock in a report on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $3.01.

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.