Invesco Ltd. Raises Position in Ballard Power Systems, Inc. $BLDP

Key Points

• Invesco Ltd. has increased its stake in Ballard Power Systems by 3.6%, now owning approximately 3.73 million shares valued at over $4 million.
• Ballard Power Systems reported a quarterly loss of ($0.08) EPS, beating estimates and achieving revenues of $17.98 million.
• Recent analyst ratings vary between "underweight" and "hold," with an average price target of $1.51 for the stock.

Invesco Ltd. increased its stake in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 3.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,729,188 shares of the technology company's stock after purchasing an additional 130,772 shares during the period. Invesco Ltd. owned approximately 1.24% of Ballard Power Systems worth $4,102,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BLDP. Raymond James Financial Inc. purchased a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $27,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Ballard Power Systems during the 1st quarter worth approximately $78,000. Itau Unibanco Holding S.A. boosted its position in shares of Ballard Power Systems by 44.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after purchasing an additional 15,160 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $101,000. Finally, Toronto Dominion Bank boosted its position in shares of Ballard Power Systems by 181.5% during 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 during the period. Hedge funds and other institutional investors own 28.02% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BLDP shares. National Bank Financial raised shares of Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. Roth Capital increased their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a "neutral" rating in a report on Monday, August 11th. UBS Group reduced their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a report on Monday, May 12th. Wells Fargo & Company increased their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an "underweight" rating in a report on Wednesday, August 13th. Finally, Susquehanna raised their price objective on shares of Ballard Power Systems from $1.30 to $2.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Eleven research 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, the stock currently has an average rating of "Reduce" and a consensus target price of $1.51.

Ballard Power Systems Stock Performance

Ballard Power Systems stock traded up $0.03 during midday trading on Wednesday, hitting $1.89. 4,178,918 shares of the company's stock were exchanged, compared to its average volume of 3,402,764. Ballard Power Systems, Inc. has a 12-month low of $1.00 and a 12-month high of $2.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.32 and a current ratio of 9.31. The stock has a market cap of $568.10 million, a price-to-earnings ratio of -1.91 and a beta of 1.73. The firm's 50 day simple moving average is $1.87 and its 200 day simple moving average is $1.50.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping 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 company had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Equities research analysts predict 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.