Royal Bank of Canada Acquires 308,742 Shares of Ballard Power Systems, Inc. $BLDP

Royal Bank of Canada lifted its holdings in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) by 94.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 637,068 shares of the technology company’s stock after purchasing an additional 308,742 shares during the period. Royal Bank of Canada owned 0.21% of Ballard Power Systems worth $1,542,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. BNP Paribas Financial Markets raised its holdings in Ballard Power Systems by 204.5% during the fourth quarter. BNP Paribas Financial Markets now owns 3,993,972 shares of the technology company’s stock valued at $10,145,000 after buying an additional 2,682,355 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Ballard Power Systems by 48.6% during the 4th quarter. Invesco Ltd. now owns 4,968,824 shares of the technology company’s stock worth $12,621,000 after acquiring an additional 1,625,542 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Ballard Power Systems by 117.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 2,720,883 shares of the technology company’s stock worth $4,327,000 after acquiring an additional 1,467,547 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ballard Power Systems by 20.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company’s stock valued at $5,408,000 after acquiring an additional 829,012 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Ballard Power Systems by 104.9% during the 4th quarter. JPMorgan Chase & Co. now owns 1,418,389 shares of the technology company’s stock valued at $3,603,000 after acquiring an additional 726,188 shares during the last quarter. 28.02% of the stock is owned by institutional investors and hedge funds.

Ballard Power Systems Trading Up 1.2%

Shares of BLDP stock opened at $2.50 on Thursday. Ballard Power Systems, Inc. has a 1 year low of $1.82 and a 1 year high of $6.57. The firm’s fifty day simple moving average is $3.20 and its 200 day simple moving average is $3.23. The firm has a market capitalization of $753.77 million, a P/E ratio of -9.62 and a beta of 2.29. The company has a current ratio of 11.19, a quick ratio of 10.36 and a debt-to-equity ratio of 0.03.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $25.24 million. As a group, sell-side analysts predict that Ballard Power Systems, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BLDP. Raymond James Financial boosted 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Ballard Power Systems in a research report on Friday, July 17th. National Bank Financial set a $4.75 price objective on shares of Ballard Power Systems and gave the stock a “sector perform” rating in a research note on Wednesday, June 24th. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 price objective for the company in a report on Monday, August 3rd. Finally, Wall Street Zen downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.50.

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.