Nuveen LLC Takes $296,000 Position in Ballard Power Systems, Inc. $BLDP

Key Points

• Nuveen LLC acquired 267,635 shares of Ballard Power Systems, valued at approximately $296,000, marking its new position in the company during the first quarter.
• Ballard Power Systems reported a negative earnings per share of ($0.08), surpassing the consensus estimate and generating revenue of $17.98 million for the last quarter.
• Wall Street analysts have mixed opinions on Ballard, with a consensus rating of "Reduce" and an average target price of $1.51, further indicating market caution.

Nuveen LLC bought a new position in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 267,635 shares of the technology company's stock, valued at approximately $296,000. Nuveen LLC owned 0.09% of Ballard Power Systems as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. boosted its stake in Ballard Power Systems by 2.1% in the 1st quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock worth $437,000 after purchasing an additional 8,265 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Ballard Power Systems by 8.5% in the 1st quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company's stock worth $136,000 after purchasing an additional 9,626 shares in the last quarter. Raymond James Financial Inc. bought a new position in Ballard Power Systems in the 4th quarter worth about $27,000. ProShare Advisors LLC boosted its stake in Ballard Power Systems by 113.0% in the 4th quarter. ProShare Advisors LLC now owns 82,921 shares of the technology company's stock worth $138,000 after purchasing an additional 43,998 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Ballard Power Systems by 181.5% in the 4th quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company's stock worth $131,000 after purchasing an additional 50,695 shares in the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BLDP shares. Lake Street Capital cut shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research note on Monday, August 11th. National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. Wells Fargo & Company upped their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a research note on Wednesday, August 13th. BMO Capital Markets upped their target price on shares of Ballard Power Systems from $1.00 to $1.10 and gave the company an "underperform" rating in a research note on Tuesday, August 12th. Finally, Roth Capital upped their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a "neutral" rating in a research note on Monday, August 11th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $1.51.

Ballard Power Systems Stock Performance

BLDP traded up $0.12 during midday trading on Thursday, hitting $2.05. 5,075,376 shares of the company traded hands, compared to its average volume of 3,537,160. 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 market capitalization of $616.19 million, a PE ratio of -2.07 and a beta of 1.73. The company's 50-day moving average is $1.91 and its 200 day moving average is $1.53. Ballard Power Systems, Inc. has a 52 week low of $1.00 and a 52 week high of $2.28.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) 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 business had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million. On average, research analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current year.

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.