Public Employees Retirement System of Ohio Acquires Shares of 531,170 Ballard Power Systems, Inc. $BLDP

Key Points

• Public Employees Retirement System of Ohio acquired 531,170 Ballard Power Systems shares worth approximately $2.07 million, representing about 0.18% of the company. Institutional investors collectively own 28.02% of Ballard’s stock.
• Ballard reported weaker-than-expected quarterly results, with revenue of $20.34 million versus the $25.24 million consensus estimate and a loss of $0.07 per share compared with expectations of $0.04.
• Shares opened at $2.34, below both their 50-day and 200-day moving averages. Analyst sentiment is broadly cautious, with a consensus “Reduce” rating and an average price target of $3.50.

Public Employees Retirement System of Ohio bought a new position in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP - Free Report) TSE: BLD during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 531,170 shares of the technology company's stock, valued at approximately $2,070,000. Public Employees Retirement System of Ohio owned about 0.18% of Ballard Power Systems as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BLDP. Rockefeller Capital Management L.P. lifted its stake in shares of Ballard Power Systems by 228.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 10,000 shares of the technology company's stock worth $25,000 after buying an additional 6,952 shares in the last quarter. Swiss Life Asset Management Ltd purchased a new stake in Ballard Power Systems during the 4th quarter valued at about $26,000. Ground Swell Capital LLC purchased a new stake in Ballard Power Systems during the 1st quarter valued at about $26,000. Intesa Sanpaolo S.p.A. acquired a new stake in Ballard Power Systems in the 4th quarter valued at about $28,000. Finally, Cetera Investment Advisers acquired a new stake in Ballard Power Systems in the 1st quarter valued at about $33,000. Hedge funds and other institutional investors own 28.02% of the company's stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $2.34 on Monday. The firm's 50-day moving average is $2.78 and its two-hundred day moving average is $3.24. Ballard Power Systems, Inc. has a 12 month low of $1.85 and a 12 month high of $6.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.19 and a quick ratio of 10.36. The stock has a market capitalization of $821.55 million, a P/E ratio of -9.00 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last announced its earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.03). Ballard Power Systems had a negative return on equity of 13.23% and a negative net margin of 72.78%.The company had revenue of $20.34 million for the quarter, compared to analysts' expectations of $25.24 million. On average, sell-side analysts anticipate that Ballard Power Systems, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BLDP shares. National Bank Financial set a $4.75 target price on Ballard Power Systems and gave the stock a "sector perform" rating in a report on Wednesday, June 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Ballard Power Systems in a report on Friday, July 17th. HSBC upgraded Ballard Power Systems from a "hold" rating to a "buy" rating and set a $3.60 price objective on the stock in a research report on Monday, August 3rd. Wall Street Zen lowered Ballard Power Systems from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Susquehanna dropped their target price on Ballard Power Systems from $3.50 to $3.00 and set a "neutral" rating for the company in a report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $3.50.

Ballard Power Systems Company Profile

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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