Vontobel Holding Ltd. Sells 1,871,235 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

Vontobel Holding Ltd. lowered its stake in Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 98.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,097 shares of the technology company's stock after selling 1,871,235 shares during the quarter. Vontobel Holding Ltd.'s holdings in Ballard Power Systems were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Ballard Power Systems by 19.8% in 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. Decade Renewable Partners LP acquired a new stake in Ballard Power Systems during the 2nd quarter worth about $450,000. 3Chopt Investment Partners LLC acquired a new stake in Ballard Power Systems during the 2nd quarter worth about $219,000. Susquehanna Fundamental Investments LLC purchased a new position in Ballard Power Systems during the 2nd quarter valued at about $204,000. Finally, XTX Topco Ltd acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at about $154,000. Institutional investors and hedge funds own 28.02% of the company's stock.

Ballard Power Systems Stock Performance

NASDAQ:BLDP traded down $0.02 during midday trading on Thursday, reaching $1.57. The stock had a trading volume of 2,614,776 shares, compared to its average volume of 2,804,493. The firm's fifty day simple moving average is $1.74 and its 200-day simple moving average is $2.30. Ballard Power Systems Inc. has a 1-year low of $1.55 and a 1-year high of $4.02. The stock has a market capitalization of $470.09 million, a P/E ratio of -2.49 and a beta of 1.78. 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 - Get Free Report) TSE: BLD last posted its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share 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) earnings per share. Ballard Power Systems's revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Ballard Power Systems Inc. will post -0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BLDP shares. Truist Financial lowered their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a "hold" rating on the stock in a report on Tuesday, August 13th. Cormark restated a "market perform" rating on shares of Ballard Power Systems in a research note on Monday, September 16th. National Bankshares cut 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. Wells Fargo & Company lowered their price target on Ballard Power Systems from $3.00 to $2.00 and set an "underweight" rating for the company in a research note on Tuesday, August 13th. Finally, TD Securities lowered shares of Ballard Power Systems from a "hold" rating to a "sell" rating and cut their price objective for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $2.89.

Ballard Power Systems Company 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.