267,635 Shares in Ballard Power Systems, Inc. $BLDP Purchased by Nuveen LLC

Nuveen LLC acquired a new position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 267,635 shares of the technology company’s stock, valued at approximately $296,000. Nuveen LLC owned approximately 0.09% of Ballard Power Systems at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Ballard Power Systems during the fourth quarter worth about $27,000. Virtu Financial LLC bought a new stake in Ballard Power Systems during the first quarter worth about $69,000. Baader Bank Aktiengesellschaft bought a new stake in Ballard Power Systems during the first quarter worth about $78,000. Cubist Systematic Strategies LLC bought a new stake in Ballard Power Systems during the fourth quarter worth about $101,000. Finally, Toronto Dominion Bank boosted its stake in Ballard Power Systems by 181.5% during the fourth quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company’s stock worth $131,000 after acquiring an additional 50,695 shares in the last quarter. Institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Up 7.6%

BLDP opened at $1.99 on Friday. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average price of $1.89 and a 200-day moving average price of $1.51. Ballard Power Systems, Inc. has a twelve month low of $1.00 and a twelve month high of $2.28. The stock has a market capitalization of $598.15 million, a price-to-earnings ratio of -2.01 and a beta of 1.73.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.02. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. The firm had revenue of $17.98 million during the quarter, compared to analysts’ expectations of $17.94 million. Equities research analysts forecast that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on BLDP. Susquehanna boosted their price objective on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. National Bank Financial raised shares of Ballard Power Systems to a “hold” rating in a report on Sunday, June 8th. Lake Street Capital cut shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Monday, August 11th. Roth Capital lifted their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a “neutral” rating in a report on Monday, August 11th. Finally, UBS Group decreased their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a report on Monday, May 12th. Eleven analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $1.51.

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.