Counterpoint Mutual Funds LLC Buys Shares of 226,531 Ballard Power Systems, Inc. $BLDP

Counterpoint Mutual Funds LLC purchased a new stake in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 226,531 shares of the technology company’s stock, valued at approximately $548,000. Counterpoint Mutual Funds LLC owned 0.08% of Ballard Power Systems as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada grew its stake in shares of Ballard Power Systems by 29.1% during 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 during the period. Amundi lifted its stake in Ballard Power Systems by 16.1% in the first quarter. Amundi now owns 68,140 shares of the technology company’s stock valued at $74,000 after buying an additional 9,454 shares during the period. Goldman Sachs Group Inc. lifted its stake 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 valued at $5,408,000 after buying an additional 829,012 shares during the period. Jane Street Group LLC boosted its holdings in Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company’s stock worth $1,635,000 after buying an additional 534,834 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Ballard Power Systems by 604.4% during the second quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company’s stock worth $757,000 after buying an additional 408,641 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLDP has been the subject of a number of recent analyst reports. BMO Capital Markets upped 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. ATB Cormark Capital Markets lifted their price objective on shares of Ballard Power Systems from $3.50 to $4.30 and gave the stock a “sector perform” rating in a research note on Wednesday, May 6th. Raymond James Financial boosted their price objective on shares of Ballard Power Systems from $2.40 to $4.00 and gave the company a “market perform” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their target price on shares of Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research note on Friday, March 27th. Finally, Susquehanna increased their target price on shares of Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Reduce” and a consensus target price of $3.59.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $3.52 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 9.90 and a current ratio of 10.70. Ballard Power Systems, Inc. has a 52-week low of $1.65 and a 52-week high of $6.57. The business has a 50 day simple moving average of $4.49 and a 200 day simple moving average of $3.19. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -13.04 and a beta of 2.25.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The company had revenue of $18.98 million during the quarter, compared to analysts’ expectations of $19.88 million. Analysts anticipate that Ballard Power Systems, Inc. will post -0.2 earnings per share for the current fiscal year.

Ballard Power Systems 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.