Ballard Power Systems, Inc. $BLDP Stock Holdings Increased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 7.5% during the first quarter, Holdings Channel reports. The firm owned 4,081,746 shares of the technology company’s stock after purchasing an additional 285,317 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Ballard Power Systems were worth $4,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Ballard Power Systems in the 4th quarter worth approximately $27,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Ballard Power Systems in the 1st quarter worth approximately $40,000. Cubist Systematic Strategies LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter worth approximately $101,000. Virtu Financial LLC bought a new stake in shares of Ballard Power Systems in the 1st quarter worth approximately $69,000. Finally, Amundi raised its holdings in shares of Ballard Power Systems by 16.1% in the 1st quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

BLDP has been the topic of a number of research reports. Lake Street Capital downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Monday, August 11th. Susquehanna boosted their target price on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. BMO Capital Markets lifted their target price on shares of Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a research report on Tuesday, August 12th. National Bank Financial raised shares of Ballard Power Systems to a “hold” rating in a research report on Sunday, June 8th. Finally, Wells Fargo & Company lifted their target price on shares of Ballard Power Systems from $1.00 to $1.50 and gave the stock an “underweight” rating in a research report on Wednesday, August 13th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $1.51.

Ballard Power Systems Stock Performance

BLDP stock opened at $2.05 on Friday. 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 $616.19 million, a P/E ratio of -2.07 and a beta of 1.73. The firm has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $1.53. Ballard Power Systems, Inc. has a 52 week low of $1.00 and a 52 week high of $2.28.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its quarterly earnings data on Monday, August 11th. The technology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $17.98 million for the quarter, compared to the consensus estimate of $17.94 million. Research analysts anticipate that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal 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.