ProShare Advisors LLC Purchases 43,998 Shares of Ballard Power Systems Inc. (NASDAQ:BLDP)

ProShare Advisors LLC increased its stake in shares of Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) by 113.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,921 shares of the technology company’s stock after buying an additional 43,998 shares during the quarter. ProShare Advisors LLC’s holdings in Ballard Power Systems were worth $138,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Invesco Ltd. increased its stake in shares of Ballard Power Systems by 5.6% during the 4th quarter. Invesco Ltd. now owns 3,598,416 shares of the technology company’s stock worth $5,973,000 after purchasing an additional 191,582 shares during the last quarter. Millennium Management LLC grew its stake in Ballard Power Systems by 79.9% during the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company’s stock valued at $4,404,000 after acquiring an additional 1,177,718 shares in the last quarter. Van ECK Associates Corp increased its holdings in Ballard Power Systems by 35.4% during the 4th quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock worth $4,094,000 after acquiring an additional 644,861 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in Ballard Power Systems by 19.9% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,524,180 shares of the technology company’s stock worth $2,529,000 after acquiring an additional 252,524 shares during the period. Finally, Portolan Capital Management LLC purchased a new stake in Ballard Power Systems in the 4th quarter worth approximately $2,508,000. 28.02% of the stock is owned by institutional investors.

Ballard Power Systems Trading Down 0.8%

BLDP opened at $1.28 on Tuesday. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The firm has a market cap of $383.79 million, a price-to-earnings ratio of -1.16 and a beta of 1.68. Ballard Power Systems Inc. has a 12 month low of $1.00 and a 12 month high of $3.16. The stock has a fifty day moving average price of $1.24 and a 200-day moving average price of $1.39.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Susquehanna dropped their target price on shares of Ballard Power Systems from $1.40 to $1.30 and set a “neutral” rating for the company in a research report on Monday, April 14th. Roth Mkm cut their target price on shares of Ballard Power Systems from $1.75 to $1.25 and set a “neutral” rating for the company in a research report on Friday, March 14th. Citigroup reiterated a “sell” rating and set a $1.00 price target (down from $1.50) on shares of Ballard Power Systems in a research report on Thursday, April 17th. Raymond James lowered their price target on shares of Ballard Power Systems from $2.50 to $2.00 and set a “market perform” rating for the company in a research note on Friday, March 14th. Finally, BMO Capital Markets dropped their price objective on Ballard Power Systems from $1.30 to $1.20 and set an “underperform” rating for the company in a research note on Friday, March 14th. Seven analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $2.09.

Ballard Power Systems Company Profile

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.