Goldman Sachs Group Inc. Purchases 829,012 Shares of Ballard Power Systems, Inc. $BLDP

Key Points

• Goldman Sachs Group Inc. increased its holdings in Ballard Power Systems by 20.3% in Q1, now owning approximately 1.64% of the company's shares.
• BMO Capital Markets raised their price target for Ballard from $1.00 to $1.10, although it still received an "underperform" rating.
• Ballard Power Systems reported a revenue of $17.98 million for the most recent quarter, surpassing analyst expectations of $17.94 million.

Goldman Sachs Group Inc. raised its position in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 20.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,916,541 shares of the technology company's stock after purchasing an additional 829,012 shares during the period. Goldman Sachs Group Inc. owned approximately 1.64% of Ballard Power Systems worth $5,408,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BLDP. Millennium Management LLC grew its position in Ballard Power Systems by 79.9% in the fourth quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock valued at $4,404,000 after purchasing an additional 1,177,718 shares in the last quarter. Two Sigma Investments LP grew its position in Ballard Power Systems by 58.4% in the fourth quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company's stock valued at $2,977,000 after purchasing an additional 661,413 shares in the last quarter. Jane Street Group LLC grew its position in Ballard Power Systems by 56.2% in the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock valued at $1,635,000 after purchasing an additional 534,834 shares in the last quarter. Two Sigma Advisers LP grew its position in Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company's stock valued at $1,619,000 after purchasing an additional 498,600 shares in the last quarter. Finally, Graham Capital Management L.P. grew its position in Ballard Power Systems by 127.1% in the first quarter. Graham Capital Management L.P. now owns 739,973 shares of the technology company's stock valued at $814,000 after purchasing an additional 414,068 shares in the last quarter. Institutional investors own 28.02% of the company's stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded up $0.12 during trading hours on Friday, hitting $2.74. The company's stock had a trading volume of 8,462,940 shares, compared to its average volume of 4,443,271. Ballard Power Systems, Inc. has a 12 month low of $1.00 and a 12 month high of $2.79. The company's 50 day simple moving average is $1.98 and its two-hundred day simple moving average is $1.57. The company has a market cap of $823.59 million, a P/E ratio of -2.77 and a beta of 1.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.02. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.The firm had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million. As a group, sell-side analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna raised their target price on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. 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. BMO Capital Markets increased their price target 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 increased their price target 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. Ten research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $1.51.

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.