MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in Ballard Power Systems, Inc. $BLDP

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. grew its stake in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,081,746 shares of the technology company's stock after acquiring an additional 285,317 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.36% of Ballard Power Systems worth $4,499,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in shares of Ballard Power Systems by 2.1% during the first quarter. Alps Advisors Inc. now owns 396,822 shares of the technology company's stock valued at $437,000 after acquiring an additional 8,265 shares in the last quarter. Amundi increased its holdings in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Ballard Power Systems by 8.5% during the first quarter. Mackenzie Financial Corp now owns 122,914 shares of the technology company's stock valued at $136,000 after acquiring an additional 9,626 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems during the fourth quarter valued at about $27,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new position in Ballard Power Systems during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 28.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on BLDP shares. Wells Fargo & Company lifted their price objective 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 lifted their price objective 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. National Bank Financial upgraded shares of Ballard Power Systems to a "hold" rating in a research note on Sunday, June 8th. Roth Capital lifted their price objective 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. Finally, 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. Ten equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, Ballard Power Systems presently has a consensus rating of "Reduce" and a consensus price target of $1.51.

Ballard Power Systems Price Performance

NASDAQ:BLDP traded down $0.01 during trading hours on Tuesday, reaching $2.17. 2,635,702 shares of the company were exchanged, compared to its average volume of 8,191,224. The company has a current ratio of 9.31, a quick ratio of 8.32 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average is $1.92 and its 200-day moving average is $1.54. The firm has a market cap of $650.76 million, a PE ratio of -2.19 and a beta of 1.73. Ballard Power Systems, Inc. has a twelve month low of $1.00 and a twelve month high of $2.28.

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, topping analysts' consensus estimates of ($0.10) by $0.02. The company had revenue of $17.98 million during the quarter, compared to analysts' expectations of $17.94 million. Ballard Power Systems had a negative net margin of 409.35% and a negative return on equity of 21.52%. On average, sell-side analysts anticipate 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.