Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) – Stock analysts at Cormark issued their FY2024 EPS estimates for Ballard Power Systems in a research report issued on Monday, March 20th. Cormark analyst M. Whale forecasts that the technology company will post earnings per share of ($0.57) for the year. The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.53) per share.
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last posted its quarterly earnings data on Friday, March 17th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.03. The business had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $25.62 million. Ballard Power Systems had a negative net margin of 206.98% and a negative return on equity of 13.20%. The business’s revenue was down 44.1% on a year-over-year basis. During the same period last year, the firm posted ($0.15) earnings per share.
A number of other brokerages have also recently weighed in on BLDP. Scotiabank assumed coverage on shares of Ballard Power Systems in a report on Thursday, March 9th. They set a “sector perform” rating and a $7.25 target price for the company. Wells Fargo & Company cut shares of Ballard Power Systems from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $6.00 to $5.00 in a report on Friday, January 6th. Susquehanna reduced their target price on shares of Ballard Power Systems from $6.00 to $5.50 in a report on Monday. UBS Group assumed coverage on shares of Ballard Power Systems in a report on Tuesday, December 13th. They set a “neutral” rating for the company. Finally, Raymond James reduced their target price on shares of Ballard Power Systems from $6.00 to $5.00 and set a “market perform” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $7.00.
Ballard Power Systems Trading Up 3.7 %
Ballard Power Systems stock opened at $5.38 on Wednesday. The firm has a 50 day simple moving average of $5.90 and a 200-day simple moving average of $5.93. The company has a debt-to-equity ratio of 0.01, a current ratio of 14.06 and a quick ratio of 13.65. The stock has a market capitalization of $1.61 billion, a PE ratio of -9.12 and a beta of 1.91. Ballard Power Systems has a 12-month low of $4.43 and a 12-month high of $12.57.
Institutional Investors Weigh In On Ballard Power Systems
A number of institutional investors have recently modified their holdings of BLDP. Hartline Investment Corp acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at $52,000. Raymond James & Associates acquired a new stake in shares of Ballard Power Systems during the 4th quarter valued at $60,000. Creative Planning acquired a new stake in shares of Ballard Power Systems during the 3rd quarter valued at $63,000. Fox Run Management L.L.C. acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at $65,000. Finally, Deutsche Bank AG boosted its stake 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 valued at $70,000 after buying an additional 14,010 shares during the period. Institutional investors and hedge funds own 31.97% of the company’s stock.
About Ballard Power Systems
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.
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