The Vanguard Group, Inc. recently announced the acquisition of new stake in Ballard Power Systems Inc. (NASDAQ:BLDP). The institutional investor has increased its shareholding in the Industrials company by 1.27% to 6.55 million shares with purchase of 82409.0 shares. This fresh investment now brings its stake to 2.19% valued currently at $24.23 million. In addition, Citadel Advisors LLC raised its holdings by 5.06 million to 5.06 million shares. And Global X Management Co. LLC has lifted its position by 31.99% or 0.78 million shares – to 3.2 million shares.
Currently, there are 298.39M common shares owned by the public and among those 241.66M shares have been available to trade.
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The top 3 mutual fund holders in Ballard Power Systems Inc. are L&G Hydrogen Economy UCITS ETF, iShares Tr. – Exponential Technol, and Government Pension Fund – Global. L&G Hydrogen Economy UCITS ETF owns 5.78 million shares of the company’s stock, all valued at over $21.38 million. Government Pension Fund – Global bought 1.63 million shares to bring its total holdings to over 3.75 million shares at a value of $13.89 million. Government Pension Fund – Global now owns shares totaling to 1.26% of the shares outstanding.
However, the script later moved the day high at 3.4600, up 6.58%. The company’s stock has a 5-day price change of 1.80% and 2.10% over the past three months. BLDP shares are trading -8.11% year to date (YTD), with the 12-month market performance down to -41.07% lower. It has a 12-month low price of $2.91 and touched a high of $7.10 over the same period. BLDP has an average intraday trading volume of 2.53 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.79%, -4.18%, and -16.38% respectively.
Institutional ownership of Ballard Power Systems Inc. (NASDAQ: BLDP) shares accounts for 24.82% of the company’s 298.39M shares outstanding. Mutual fund holders own 2.35%, while other institutional holders and individual stakeholders account for 23.18% and — respectively.
It has a market capitalization of $1.02B and a beta (3y monthly) value of 1.70. The earnings-per-share (ttm) stands at -$0.54. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.63% over the week and 4.64% over the month.
Analysts forecast that Ballard Power Systems Inc. (BLDP) will achieve an EPS of -$0.13 for the current quarter, -$0.13 for the next quarter and -$0.52 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.15 while analysts give the company a high EPS estimate of -$0.1. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 5.16%, and 10.00% over the next financial year. EPS should grow at an annualized rate of 0.03% over the next five years, compared to -63.38% over the past 5-year period.
Looking at the support for the BLDP, a number of firms have released research notes about the stock. HSBC Securities stated their Buy rating for the stock in a research note on October 24, 2023, with the firm’s price target at $4.50.
