Raymond James Financial Services Advisors Inc. Has $133,000 Stake in Ballard Power Systems Inc. (NASDAQ:BLDP)

Raymond James Financial Services Advisors Inc. raised its position in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 116.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,861 shares of the technology company’s stock after purchasing an additional 19,284 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ballard Power Systems were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BLDP. Mirae Asset Global Investments Co. Ltd. raised its position in Ballard Power Systems by 27.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company’s stock valued at $14,353,000 after purchasing an additional 849,311 shares in the last quarter. Vanguard Group Inc. raised its position in Ballard Power Systems by 1.7% during the third quarter. Vanguard Group Inc. now owns 9,121,473 shares of the technology company’s stock valued at $33,476,000 after purchasing an additional 148,321 shares in the last quarter. SG Americas Securities LLC acquired a new position in Ballard Power Systems during the fourth quarter valued at approximately $373,000. Rathbones Group PLC acquired a new position in Ballard Power Systems during the third quarter valued at approximately $181,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Ballard Power Systems by 8.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 587,460 shares of the technology company’s stock valued at $2,160,000 after purchasing an additional 47,392 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Stock Performance

Shares of Ballard Power Systems stock opened at $2.47 on Friday. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01. Ballard Power Systems Inc. has a twelve month low of $2.42 and a twelve month high of $5.68. The stock has a market cap of $739.25 million, a price-to-earnings ratio of -4.19 and a beta of 1.66. The company’s fifty day moving average is $2.95 and its 200 day moving average is $3.29.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Monday, March 11th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.04). The firm had revenue of $46.80 million for the quarter, compared to the consensus estimate of $26.32 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The business’s revenue was up 131.7% compared to the same quarter last year. During the same period last year, the company posted ($0.12) EPS. Sell-side analysts forecast that Ballard Power Systems Inc. will post -0.51 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James lowered their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group decreased their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a research note on Tuesday, January 30th. Citigroup decreased their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler decreased their target price on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research note on Wednesday, March 13th. Finally, TD Securities decreased their target price on shares of Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.94.

About Ballard Power Systems

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.