BNP Paribas Financial Markets Has $10.15 Million Stock Position in Ballard Power Systems, Inc. $BLDP

BNP Paribas Financial Markets increased its stake in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 204.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,993,972 shares of the technology company’s stock after acquiring an additional 2,682,355 shares during the quarter. BNP Paribas Financial Markets’ holdings in Ballard Power Systems were worth $10,145,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BLDP. Royal Bank of Canada increased its holdings in Ballard Power Systems by 29.1% in the first quarter. Royal Bank of Canada now owns 692,662 shares of the technology company’s stock worth $761,000 after purchasing an additional 156,014 shares in the last quarter. Amundi increased its holdings in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Ballard Power Systems by 20.3% in the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock worth $5,408,000 after purchasing an additional 829,012 shares in the last quarter. Jane Street Group LLC increased its holdings in Ballard Power Systems by 56.2% in the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock worth $1,635,000 after purchasing an additional 534,834 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Ballard Power Systems by 604.4% in the second quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock worth $757,000 after purchasing an additional 408,641 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on BLDP. BMO Capital Markets lifted their target price on Ballard Power Systems from $1.70 to $2.10 and gave the stock an “underperform” rating in a report on Wednesday, May 6th. ATB Cormark Capital Markets boosted their price objective on Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a report on Wednesday, May 6th. Susquehanna boosted their price objective on Ballard Power Systems from $2.60 to $4.25 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a report on Monday, April 20th. Finally, Lake Street Capital upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $3.00 to $5.00 in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $3.59.

Ballard Power Systems Trading Up 4.9%

NASDAQ BLDP opened at $5.16 on Tuesday. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -19.11 and a beta of 2.19. Ballard Power Systems, Inc. has a 52 week low of $1.39 and a 52 week high of $6.57. The business has a 50 day moving average price of $3.99 and a 200-day moving average price of $3.02. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $18.98 million during the quarter, compared to the consensus estimate of $19.88 million. Ballard Power Systems had a negative return on equity of 13.48% and a negative net margin of 78.60%. As a group, equities analysts expect that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

About Ballard Power Systems

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.