Ballard Power Systems, Inc. $BLDP Shares Acquired by Goldman Sachs Group Inc.

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. grew its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 20.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,916,541 shares of the technology company's stock after buying an additional 829,012 shares during the quarter. Goldman Sachs Group Inc. owned about 1.64% of Ballard Power Systems worth $5,408,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Ballard Power Systems in the 1st quarter valued at approximately $40,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Ballard Power Systems in the 4th quarter valued at approximately $101,000. Virtu Financial LLC acquired a new stake in shares of Ballard Power Systems in the 1st quarter valued at approximately $69,000. Amundi lifted its holdings in shares of Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after buying an additional 9,454 shares during the period. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Ballard Power Systems in the 1st quarter valued at approximately $78,000. 28.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BLDP has been the subject of several research reports. BMO Capital Markets lifted their price objective on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a report on Tuesday, August 12th. Lake Street Capital cut Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Monday, August 11th. Susquehanna lifted their price objective on Ballard Power Systems from $1.30 to $2.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wells Fargo & Company lifted their price objective on Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Finally, National Bank Financial raised Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Ten analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Ballard Power Systems presently has an average rating of "Reduce" and an average price target of $1.51.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $2.17 on Tuesday. Ballard Power Systems, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The stock has a market cap of $652.26 million, a price-to-earnings ratio of -2.19 and a beta of 1.73. The business has a fifty day moving average of $1.92 and a 200-day moving average of $1.54. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping 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 company had revenue of $17.98 million during the quarter, compared to analysts' expectations of $17.94 million. As a group, analysts predict that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding BLDP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.