ProShare Advisors LLC Raises Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

ProShare Advisors LLC lifted its holdings in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 113.0% in the fourth quarter, Holdings Channel reports. The firm owned 82,921 shares of the technology company’s stock after buying an additional 43,998 shares during the period. ProShare Advisors LLC’s holdings in Ballard Power Systems were worth $138,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Bank of Canada FI raised its position in shares of Ballard Power Systems by 14.7% during the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company’s stock worth $120,000 after purchasing an additional 9,287 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Ballard Power Systems by 44.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company’s stock valued at $82,000 after acquiring an additional 15,160 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems during the fourth quarter valued at approximately $27,000. Headlands Technologies LLC acquired a new stake in Ballard Power Systems during the 4th quarter worth $52,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Ballard Power Systems during the 4th quarter valued at about $101,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Trading Down 0.8%

Shares of BLDP stock opened at $1.28 on Tuesday. Ballard Power Systems Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $3.16. The company has a 50 day moving average price of $1.24 and a 200 day moving average price of $1.39. The stock has a market capitalization of $383.79 million, a P/E ratio of -1.16 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.05. The company had revenue of $14.76 million during the quarter, compared to analysts’ expectations of $16.82 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. Equities research analysts predict that Ballard Power Systems Inc. will post -0.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on BLDP. National Bankshares cut their price target on Ballard Power Systems from $2.60 to $2.00 and set a “sector perform” rating for the company in a report on Friday, March 14th. Citigroup reissued a “sell” rating and issued a $1.00 price target (down previously from $1.50) on shares of Ballard Power Systems in a research note on Thursday, April 17th. Susquehanna cut their target price on Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research note on Monday, April 14th. UBS Group reduced their target price on Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Finally, Wall Street Zen raised shares of Ballard Power Systems to a “sell” rating in a research note on Thursday, May 8th. Seven 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 data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $2.09.

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.