JPMorgan Chase & Co. Grows Stake in Ballard Power Systems, Inc. $BLDP

JPMorgan Chase & Co. boosted its position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 45.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 692,201 shares of the technology company’s stock after purchasing an additional 215,954 shares during the quarter. JPMorgan Chase & Co. owned about 0.23% of Ballard Power Systems worth $1,883,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Legal & General Group Plc increased its holdings in Ballard Power Systems by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 13,459,729 shares of the technology company’s stock worth $36,486,000 after purchasing an additional 326,505 shares during the period. Two Sigma Investments LP increased its holdings in Ballard Power Systems by 11.7% during the 3rd quarter. Two Sigma Investments LP now owns 6,282,641 shares of the technology company’s stock worth $17,089,000 after purchasing an additional 657,107 shares during the period. Goldman Sachs Group Inc. increased its holdings in Ballard Power Systems by 20.3% during the 1st 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 during the period. CANADA LIFE ASSURANCE Co increased its holdings in Ballard Power Systems by 1.7% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 2,766,262 shares of the technology company’s stock worth $7,580,000 after purchasing an additional 45,379 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Ballard Power Systems by 43.8% during the 3rd quarter. Van ECK Associates Corp now owns 2,345,177 shares of the technology company’s stock worth $6,379,000 after purchasing an additional 714,647 shares during the period. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Down 5.1%

Ballard Power Systems stock opened at $2.40 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.86 and a quick ratio of 9.14. The stock has a market capitalization of $721.90 million, a price-to-earnings ratio of -8.00 and a beta of 1.68. Ballard Power Systems, Inc. has a 1-year low of $1.00 and a 1-year high of $4.10. The business has a fifty day moving average price of $2.28 and a 200-day moving average price of $2.74.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $33.28 million during the quarter, compared to analysts’ expectations of $32.24 million. Ballard Power Systems had a negative return on equity of 14.62% and a negative net margin of 91.50%. Equities research analysts forecast that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen upgraded Ballard Power Systems from a “sell” rating to a “hold” rating in a report on Friday, January 9th. TD Securities upgraded Ballard Power Systems from a “sell” rating to a “hold” rating and set a $2.50 price objective on the stock in a report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their target price on Ballard Power Systems from $1.50 to $2.00 and gave the company an “underweight” rating in a research report on Friday, March 27th. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $2.48.

Ballard Power Systems Company 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.