Leonteq Securities AG Takes Position in Ballard Power Systems, Inc. $BLDP

Leonteq Securities AG acquired a new stake in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 120,936 shares of the technology company’s stock, valued at approximately $319,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in Ballard Power Systems by 108.5% during the fourth quarter. GSA Capital Partners LLP now owns 709,304 shares of the technology company’s stock worth $1,802,000 after buying an additional 369,137 shares during the last quarter. ProShare Advisors LLC increased its holdings in Ballard Power Systems by 99.6% during the fourth quarter. ProShare Advisors LLC now owns 56,784 shares of the technology company’s stock worth $144,000 after buying an additional 28,337 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in Ballard Power Systems during the fourth quarter worth $26,000. Pictet Asset Management Holding SA acquired a new position in Ballard Power Systems during the fourth quarter worth $135,000. Finally, JPMorgan Chase & Co. increased its holdings in Ballard Power Systems by 45.3% during the third quarter. JPMorgan Chase & Co. now owns 692,201 shares of the technology company’s stock worth $1,883,000 after buying an additional 215,954 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.

Ballard Power Systems Stock Up 2.0%

Shares of NASDAQ BLDP opened at $5.54 on Friday. The stock has a 50-day moving average price of $3.24 and a two-hundred day moving average price of $2.83. Ballard Power Systems, Inc. has a 12 month low of $1.24 and a 12 month high of $5.90. The company has a current ratio of 10.70, a quick ratio of 9.90 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.67 billion, a price-to-earnings ratio of -20.52 and a beta of 1.94.

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

Wall Street Analyst Weigh In

BLDP has been the topic of a number of recent analyst reports. Raymond James Financial boosted their target price on shares of Ballard Power Systems from $2.40 to $4.00 and gave the stock a “market perform” rating in a report on Wednesday, May 6th. Susquehanna lifted their price objective on shares of Ballard Power Systems from $2.60 to $4.25 and gave the stock a “neutral” rating in a research report on Wednesday. Lake Street Capital raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $3.00 to $5.00 in a research report on Tuesday, May 5th. ATB Cormark Capital Markets boosted their target price on shares of Ballard Power Systems from $3.50 to $4.30 and gave the company a “sector perform” rating in a research report on Wednesday, May 6th. Finally, National Bank Financial upped their price objective on shares of 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. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $3.59.

Ballard Power Systems Company 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.