GSA Capital Partners LLP Purchases 369,137 Shares of Ballard Power Systems, Inc. $BLDP

GSA Capital Partners LLP boosted its position in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 108.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 709,304 shares of the technology company’s stock after buying an additional 369,137 shares during the quarter. GSA Capital Partners LLP’s holdings in Ballard Power Systems were worth $1,802,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swiss Life Asset Management Ltd bought a new position in Ballard Power Systems in the fourth quarter valued at about $26,000. Hudson Bay Capital Management LP bought a new position in Ballard Power Systems during the third quarter worth about $43,000. Scientech Research LLC boosted its holdings in Ballard Power Systems by 162.4% during the third quarter. Scientech Research LLC now owns 35,237 shares of the technology company’s stock worth $96,000 after buying an additional 21,808 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock worth $58,000 after buying an additional 19,170 shares during the last quarter. Finally, Baader Bank Aktiengesellschaft boosted its holdings in Ballard Power Systems by 254.7% during the third quarter. Baader Bank Aktiengesellschaft now owns 37,392 shares of the technology company’s stock worth $102,000 after buying an additional 26,851 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Wall Street Analyst Weigh In

BLDP has been the topic of a number of recent analyst reports. Raymond James Financial raised their target price on Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. TD Cowen raised their price target on Ballard Power Systems from $2.50 to $4.25 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. National Bank Financial raised their price target on Ballard Power Systems from $3.15 to $4.75 and gave the stock a “sector perform” rating in a research report on Wednesday, May 6th. Wells Fargo & Company raised their price target on Ballard Power Systems from $1.50 to $2.00 and gave the stock an “underweight” rating in a research report on Friday, March 27th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Monday, April 20th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $3.51.

Ballard Power Systems Price Performance

NASDAQ BLDP opened at $4.18 on Wednesday. The company has a quick ratio of 9.90, a current ratio of 10.70 and a debt-to-equity ratio of 0.03. Ballard Power Systems, Inc. has a 12-month low of $1.24 and a 12-month high of $4.86. The company has a market capitalization of $1.26 billion, a PE ratio of -15.48 and a beta of 1.94. The firm’s 50 day moving average is $3.05 and its 200-day moving average is $2.79.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.02. Ballard Power Systems had a negative net margin of 78.60% and a negative return on equity of 13.48%. The company had revenue of $18.98 million for the quarter, compared to the consensus estimate of $19.88 million. Equities research analysts anticipate that Ballard Power Systems, Inc. will post -0.19 earnings per share for the current fiscal year.

Ballard Power Systems 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.