3Chopt Investment Partners LLC Makes New Investment in Ballard Power Systems Inc. (NASDAQ:BLDP)

3Chopt Investment Partners LLC purchased a new position in Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 97,378 shares of the technology company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Ballard Power Systems in the 2nd quarter worth $204,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter worth approximately $52,000. Decade Renewable Partners LP purchased a new stake in Ballard Power Systems during the second quarter valued at approximately $450,000. Itau Unibanco Holding S.A. acquired a new stake in Ballard Power Systems in the second quarter valued at approximately $91,000. Finally, MQS Management LLC purchased a new position in Ballard Power Systems in the second quarter worth $79,000. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BLDP. National Bankshares decreased their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, August 13th. TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their price target for the stock from $2.50 to $1.50 in a report on Monday, August 12th. Wells Fargo & Company cut their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets decreased their price objective on shares of Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating for the company in a research report on Tuesday, August 13th. Finally, CIBC reissued an “underperformer” rating and set a $1.60 target price (down previously from $3.50) on shares of Ballard Power Systems in a research report on Tuesday, August 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.11.

Ballard Power Systems Trading Up 1.7 %

NASDAQ BLDP opened at $1.75 on Thursday. Ballard Power Systems Inc. has a 1 year low of $1.61 and a 1 year high of $4.34. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. The company has a market capitalization of $523.94 million, a PE ratio of -2.82 and a beta of 1.78. The company has a fifty day moving average of $2.06 and a 200 day moving average of $2.57.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. During the same quarter last year, the business posted ($0.10) EPS. The company’s revenue was up 4.6% on a year-over-year basis. Research analysts forecast that Ballard Power Systems Inc. will post -0.48 earnings per share for the current year.

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.