Nuveen LLC Buys Shares of 267,635 Ballard Power Systems, Inc. $BLDP

Nuveen LLC bought a new stake in shares of Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 267,635 shares of the technology company’s stock, valued at approximately $296,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Ballard Power Systems during the fourth quarter valued at approximately $27,000. Virtu Financial LLC purchased a new stake in Ballard Power Systems during the first quarter valued at approximately $69,000. Baader Bank Aktiengesellschaft purchased a new stake in Ballard Power Systems during the first quarter valued at approximately $78,000. 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 increased its holdings 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 buying an additional 50,695 shares during the last quarter. 28.02% of the stock is owned by hedge funds and other institutional investors.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $1.99 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 firm has a fifty day moving average price of $1.89 and a 200 day moving average price of $1.51. Ballard Power Systems, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The firm has a market cap of $598.15 million, a price-to-earnings ratio of -2.01 and a beta of 1.73.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 11th. The technology company reported ($0.08) earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $17.94 million. As a group, sell-side analysts expect that Ballard Power Systems, Inc. will post -0.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on BLDP shares. UBS Group reduced their target price on shares of Ballard Power Systems from $2.00 to $1.40 and set a “neutral” rating for the company in a report on Monday, May 12th. Susquehanna upped their price target on shares of Ballard Power Systems from $1.30 to $2.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Wells Fargo & Company upped their price target 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. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 11th. Finally, Roth Capital upped their price target on shares of Ballard Power Systems from $1.25 to $1.80 and gave the stock a “neutral” rating in a research report on Monday, August 11th. Eleven investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ballard Power Systems currently has a consensus rating of “Reduce” and a consensus price target of $1.51.

Ballard Power Systems 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.