Ballard Power Systems (NASDAQ:BLDP) Announces Earnings Results, Beats Estimates By $0.03 EPS

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) issued its quarterly earnings data on Friday. The technology company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.03, Briefing.com reports. The company had revenue of $20.50 million during the quarter, compared to the consensus estimate of $25.62 million. Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. Ballard Power Systems’s revenue for the quarter was down 44.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) earnings per share.

Ballard Power Systems Trading Down 2.9 %

BLDP stock opened at $4.97 on Friday. The company’s 50-day simple moving average is $5.94 and its 200-day simple moving average is $5.99. The company has a quick ratio of 13.65, a current ratio of 14.44 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a 52-week low of $4.43 and a 52-week high of $12.57. The firm has a market cap of $1.48 billion, a P/E ratio of -8.02 and a beta of 1.91.

Analyst Ratings Changes

BLDP has been the subject of a number of recent research reports. Wells Fargo & Company downgraded shares of Ballard Power Systems from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $6.00 to $5.00 in a research note on Friday, January 6th. Truist Financial reduced their price target on Ballard Power Systems from $7.00 to $6.00 in a research report on Wednesday. Scotiabank assumed coverage on Ballard Power Systems in a research report on Thursday, March 9th. They set a “sector perform” rating and a $7.25 price target on the stock. National Bankshares reduced their price target on Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 17th. Finally, BMO Capital Markets assumed coverage on Ballard Power Systems in a research report on Thursday, December 8th. They set a “market perform” rating and a $5.50 price target on the stock. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $7.25.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds have recently modified their holdings of the company. Raymond James & Associates purchased a new stake in shares of Ballard Power Systems during the 4th quarter worth about $60,000. Deutsche Bank AG raised its position in shares of Ballard Power Systems by 2,001.4% during the 4th quarter. Deutsche Bank AG now owns 14,710 shares of the technology company’s stock worth $70,000 after purchasing an additional 14,010 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Ballard Power Systems during the 2nd quarter worth about $83,000. Bridgewater Associates LP acquired a new position in shares of Ballard Power Systems during the 1st quarter worth about $124,000. Finally, American Century Companies Inc. raised its position in shares of Ballard Power Systems by 152.2% during the 4th quarter. American Century Companies Inc. now owns 27,713 shares of the technology company’s stock worth $133,000 after purchasing an additional 16,726 shares during the last quarter. 31.97% of the stock is owned by hedge funds and other institutional investors.

About Ballard Power Systems

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.

See Also

Earnings History for Ballard Power Systems (NASDAQ:BLDP)

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