Invesco Ltd. Grows Stake 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. lifted its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,729,188 shares of the technology company's stock after acquiring an additional 130,772 shares during the period. Invesco Ltd. owned 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 and other institutional investors also recently added to or reduced their stakes in BLDP. Raymond James Financial Inc. bought a new position in Ballard Power Systems during the fourth quarter valued at approximately $27,000. Baader Bank Aktiengesellschaft purchased a new stake in Ballard Power Systems during the first quarter valued at approximately $78,000. Itau Unibanco Holding S.A. raised its position in Ballard Power Systems by 44.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock valued at $82,000 after purchasing an additional 15,160 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Ballard Power Systems during the fourth quarter valued at approximately $101,000. Finally, Toronto Dominion Bank raised its position in Ballard Power Systems by 181.5% during the fourth quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company's stock valued at $131,000 after purchasing an additional 50,695 shares during the period. 28.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BLDP. National Bank Financial upgraded Ballard Power Systems to a "hold" rating in a research report on Sunday, June 8th. UBS Group decreased their price objective on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. Finally, Susquehanna increased their price target on Ballard Power Systems from $1.30 to $2.00 and gave the stock 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 stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $1.51.

Ballard Power Systems Trading Down 0.5%

Shares of NASDAQ BLDP traded down $0.01 during midday trading on Monday, hitting $2.02. The company's stock had a trading volume of 3,266,833 shares, compared to its average volume of 3,482,233. 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 business's 50 day moving average is $1.84 and its two-hundred day moving average is $1.50. Ballard Power Systems, Inc. has a 12-month low of $1.00 and a 12-month high of $2.28. The firm has a market cap of $607.17 million, a P/E ratio of -2.04 and a beta of 1.73.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $17.94 million. As a group, equities research analysts expect 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.