Ballard Power Systems, Inc. $BLDP Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Ballard Power Systems by 7.5%, owning over 4 million shares valued at approximately $4.5 million.
• Several institutional investors, including Millennium Management LLC and Invesco Ltd., have significantly raised their holdings in the company, reflecting growing confidence in Ballard Power Systems.
• Ballard Power Systems' stock price rose 6.2% recently, with a current trading price around $2.05 and a consensus rating of "Reduce" among analysts.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,081,746 shares of the technology company's stock after purchasing an additional 285,317 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.36% of Ballard Power Systems worth $4,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at about $27,000. Cubist Systematic Strategies LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at about $101,000. Graham Capital Management L.P. increased its holdings in shares of Ballard Power Systems by 61.0% in the 4th quarter. Graham Capital Management L.P. now owns 325,905 shares of the technology company's stock valued at $541,000 after acquiring an additional 123,491 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Ballard Power Systems by 79.9% in the 4th quarter. Millennium Management LLC now owns 2,652,624 shares of the technology company's stock valued at $4,404,000 after acquiring an additional 1,177,718 shares during the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of Ballard Power Systems by 113.0% in the 4th quarter. ProShare Advisors LLC now owns 82,921 shares of the technology company's stock valued at $138,000 after acquiring an additional 43,998 shares during the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

Ballard Power Systems Trading Up 7.0%

NASDAQ:BLDP traded up $0.16 on Wednesday, reaching $2.36. The stock had a trading volume of 2,929,015 shares, compared to its average volume of 8,169,368. The company has a market cap of $707.87 million, a price-to-earnings ratio of -2.38 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. The firm's fifty day moving average is $1.93 and its two-hundred day moving average is $1.54. Ballard Power Systems, Inc. has a 12-month low of $1.00 and a 12-month high of $2.38.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its earnings results on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $17.94 million. Equities analysts expect that Ballard Power Systems, Inc. will post -0.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of recent analyst reports. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a report on Sunday, June 8th. Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating in a report on Monday, August 11th. Roth Capital raised their price target on Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a research note on Monday, August 11th. BMO Capital Markets raised their price target on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company raised their price target on Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a research note on Wednesday, August 13th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Ballard Power Systems currently has a consensus rating of "Reduce" and an average target price 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.