GSA Capital Partners LLP Purchases Shares of 265,320 Ballard Power Systems, Inc. $BLDP

GSA Capital Partners LLP acquired a new position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) in the second quarter, HoldingsChannel reports. The institutional investor acquired 265,320 shares of the technology company’s stock, valued at approximately $1,032,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. increased its stake in shares of Ballard Power Systems by 10.9% during the first quarter. J. Derek Lewis & Associates Inc. now owns 51,000 shares of the technology company’s stock worth $123,000 after purchasing an additional 5,000 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Ballard Power Systems by 228.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company’s stock valued at $25,000 after purchasing an additional 6,952 shares during the period. Amundi boosted its stake in Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after purchasing an additional 9,454 shares during the period. Vontobel Holding Ltd. grew its holdings in Ballard Power Systems by 27.7% in the 4th quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company’s stock valued at $118,000 after buying an additional 10,000 shares in the last quarter. Finally, Swiss Life Asset Management Ltd bought a new position in Ballard Power Systems during the 4th quarter worth $26,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

BLDP opened at $2.60 on Tuesday. The firm has a market cap of $783.93 million, a P/E ratio of -10.00 and a beta of 2.29. The business’s fifty day moving average is $3.29 and its 200-day moving average is $3.23. Ballard Power Systems, Inc. has a 52-week low of $1.82 and a 52-week high of $6.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.36 and a current ratio of 11.19.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). The firm had revenue of $20.34 million for the quarter, compared to the consensus estimate of $25.24 million. Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%. Sell-side analysts expect that Ballard Power Systems, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLDP shares. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.00 to $5.00 in a research report on Tuesday, May 5th. ATB Cormark Capital Markets boosted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. TD Cowen increased their target price on shares of Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. HSBC upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price target for the company in a research report on Monday, August 3rd. Finally, BMO Capital Markets boosted their price target on Ballard Power Systems from $1.70 to $2.10 and gave the company an “underperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and a consensus target price of $3.50.

Ballard Power Systems Company Profile

Ballard Power Systems (NASDAQ:BLDP) is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.