Ballard Power Systems (NASDAQ:BLDP) Announces Quarterly Earnings Results

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) released its earnings results on Tuesday. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01), Briefing.com reports. The business had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.11) earnings per share.

Ballard Power Systems Trading Up 2.1 %

Shares of NASDAQ BLDP traded up $0.06 during midday trading on Wednesday, hitting $2.90. The stock had a trading volume of 658,604 shares, compared to its average volume of 2,969,574. The company has a debt-to-equity ratio of 0.01, a current ratio of 12.25 and a quick ratio of 11.60. Ballard Power Systems has a fifty-two week low of $2.42 and a fifty-two week high of $5.68. The firm has a market cap of $867.94 million, a P/E ratio of -4.81 and a beta of 1.65. The company’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $3.24.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BLDP shares. TD Securities decreased their target price on shares of Ballard Power Systems from $3.00 to $2.50 in a report on Thursday, April 25th. Piper Sandler dropped their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research report on Wednesday, March 13th. Raymond James cut their price target on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Truist Financial reissued a “hold” rating and issued a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday. Finally, Citigroup cut their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $3.90.

Ballard Power Systems Company 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.