A number of other hedge funds have followed suit and decreased the total amount of money they have invested in the company. During the second quarter, Tortoise Capital Advisors L.L.C. saw a rise of 171.6% in the value of the Ballard Power Systems shares it held in its portfolio. Tortoise Capital Advisors L.L.C. has acquired a total of 4,131 additional shares of the company since the beginning of the reporting period, bringing its total number of shares held by the company to 6,538. There is a value of $41,000 associated with these shares. Tortoise Capital Advisors, L.L.C. Millburn Ridgefield Corporation was able to increase the amount of Ballard Power Systems stock owned by 66.4% during the second quarter of the fiscal year. Millburn Ridgefield Corp. now has a total of 7,365 shares in the technology business after making an additional purchase of 2,940 shares during the period. The stock has a value of $46,000, and Millburn Ridgefield Corp. now owns all of these shares. During the second quarter, Fox Run Management L.L.C. made a new investment in Ballard Power Systems. The cost of this investment was approximately $65,000, and it was invested in the company. Bridgewater Associates L.P. bought a new position in Ballard Power Systems during the first quarter, worth approximately 124,000 dollars. PDT Partners L.L.C. increased its holdings in Ballard Power Systems during the second quarter by purchasing additional shares at approximately $83,000 per investment. This was done to expand the company’s portfolio. Hedge funds and other types of institutional investors hold a total of 31.97% of the company’s outstanding shares.
NASDAQ: BLDP started trading for $5.77 on Friday when the market opened. Ballard Power Systems Inc. hit an all-time low of $4.43 during the past year, while the company reached an all-time high of $12.57 during the same period. The debt-to-equity ratio is calculated to be 0.01; the quick ratio is calculated to be 13.65; the current ratio is calculated to be 14.44; and so on. The company has a moving average of $5.60 over the past 50 days, and its price over the past 200 days has an average of $6.47.
On November 7, the results of the most recent quarterly financial report for Ballard Power Systems, traded on the Toronto Stock Exchange under the ticker symbol B.L.D., were made public. Earnings per share for the quarter at the I.T. company came in at $0.14, which was in line with the average estimate of $0.14 from market analysts. Ballard Power Systems had a negative equity return and net margin. Ballard Power Systems was in the red. Both the return on equity and the net margin were in red. The net margin was -182.86% negative, and the return on equity was -13.51%. The company’s sales for the quarter came in at $21.50 million, significantly lower than the industry analysts’ projections of $23.94 million for the company’s sales. The corporation incurred a loss equivalent to $0.10 per share in the same period as the previous year. The revenue that the company brought in during the quarter was 14.7% lower when compared to the same period that occurred the year before. According to the consensus among market experts, Ballard Power Systems Inc. is expected to report a loss of $0.62 per share for the current fiscal year.
The Big Legs Data Project has been the main investigation topic for most recent research projects. Susquehanna Bancshares lowered their price target for Ballard Power Systems from $6.50 to $6.00 and gave the stock a rating of “neutral” in a research report published on Tuesday, November 8. The report was titled “Ballard Power Systems Research Update.” The research team also suggested “buying” the stock in their conclusion. The rating that National Bank Financial had assigned to Ballard Power Systems was changed from “outperform” to “sector perform” on November 8. Cowen announced on November 15, in a published research note, that they were lowering their target price for Ballard Power Systems to $7.50. In a research note published on November 8, Raymond James lowered their “market perform” rating on Ballard Power Systems to “underperform” and lowered their price objective on the company from $10.00 to $6.00. Both of these changes were made to the company’s stock. Last but certainly not least, Lake Street Capital lowered its price objective for Ballard Power Systems from $32 to $19 in a research report made public on Tuesday, November 8. Two research analysts have suggested that investors “sell” the stock, while thirteen others have assigned the security a rating of “hold.” The information obtained from Bloomberg.com indicates that the stock is currently rated as having a consensus rating of “Hold” and has an average price target of $7.74. This information was obtained from the website.
Ballard Power Systems Inc. is in charge of all aspects of the proton exchange membrane (P.E.M.) fuel cell industry, including research and development, manufacturing, sales, and maintenance of the products. Some of the applications that the company’s power products are used for include material handling, backup power, and heavy-duty motors for applications such as buses, trucks, trains, and marine vessels. These are some markets in which the company sells its power products.
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