Two Sigma Investments LP Raises Position in Ballard Power Systems Inc. (NASDAQ:BLDP)

Two Sigma Investments LP raised its stake in Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD by 58.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793,296 shares of the technology company's stock after acquiring an additional 661,413 shares during the period. Two Sigma Investments LP owned approximately 0.60% of Ballard Power Systems worth $2,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BLDP. National Bank of Canada FI raised its holdings in shares of Ballard Power Systems by 14.7% during the 4th quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock worth $120,000 after buying an additional 9,287 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings 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 buying an additional 15,160 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Ballard Power Systems during the 4th quarter worth $27,000. Headlands Technologies LLC bought a new stake in Ballard Power Systems during the 4th quarter worth $52,000. Finally, ProShare Advisors LLC grew its position in Ballard Power Systems by 113.0% during the 4th quarter. ProShare Advisors LLC now owns 82,921 shares of the technology company's stock worth $138,000 after acquiring an additional 43,998 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BLDP. BMO Capital Markets reduced their price objective on Ballard Power Systems from $1.30 to $1.20 and set an "underperform" rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company set a $1.00 price objective on Ballard Power Systems in a research report on Thursday, March 13th. UBS Group reduced 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. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. Finally, Raymond James reduced their price objective on Ballard Power Systems from $2.50 to $2.00 and set a "market perform" rating on the stock in a research report on Friday, March 14th. Seven research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $2.09.

Ballard Power Systems Stock Up 6.2%

BLDP stock traded up $0.08 during trading on Wednesday, reaching $1.38. 9,570,926 shares of the stock were exchanged, compared to its average volume of 6,055,144. The firm has a market cap of $413.77 million, a P/E ratio of -1.25 and a beta of 1.68. Ballard Power Systems Inc. has a twelve month low of $1.00 and a twelve month high of $3.00. The firm's 50 day moving average is $1.24 and its 200 day moving average is $1.39. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.05. The firm had revenue of $14.76 million during the quarter, compared to the consensus estimate of $16.82 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. As a group, research analysts forecast that Ballard Power Systems Inc. will post -0.54 EPS for the current year.

About Ballard Power Systems

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.