Public Employees Retirement System of Ohio Invests $2.07 Million in Ballard Power Systems, Inc. $BLDP

Public Employees Retirement System of Ohio acquired a new stake in Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 531,170 shares of the technology company’s stock, valued at approximately $2,070,000.

Several other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in Ballard Power Systems in the 1st quarter valued at about $1,362,000. Dimensional Fund Advisors LP lifted its position in shares of Ballard Power Systems by 18.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,831,549 shares of the technology company’s stock worth $4,431,000 after purchasing an additional 283,684 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Ballard Power Systems during the second quarter worth about $3,392,000. Legal & General Group Plc purchased a new position in shares of Ballard Power Systems in the second quarter valued at approximately $28,144,000. Finally, Man Group plc purchased a new position in shares of Ballard Power Systems in the second quarter valued at approximately $4,629,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Analyst Ratings Changes

BLDP has been the topic of several recent research reports. HSBC raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.60 target price on the stock in a research note on Monday, August 3rd. National Bank Financial set a $4.75 price target on shares of Ballard Power Systems and gave the company a “sector perform” rating in a research report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Ballard Power Systems in a research note on Friday, July 17th. Wall Street Zen lowered Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Susquehanna reduced their price objective on Ballard Power Systems from $3.50 to $3.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $3.50.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $2.34 on Monday. Ballard Power Systems, Inc. has a 52-week low of $1.85 and a 52-week high of $6.57. The company has a 50 day moving average of $2.78 and a 200 day moving average of $3.24. The company has a quick ratio of 10.36, a current ratio of 11.19 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $821.55 million, a P/E ratio of -9.00 and a beta of 2.26.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Friday, July 31st. The technology company reported ($0.07) 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 firm had revenue of $20.34 million for the quarter, compared to analyst estimates of $25.24 million. As a group, research analysts forecast that Ballard Power Systems, Inc. will post -0.17 EPS 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.