Ballard Power Systems (NASDAQ:BLDP) Issues Earnings Results

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) announced its earnings results on Tuesday. The technology company reported ($0.14) earnings per share (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 return on equity of 14.06% and a negative net margin of 172.63%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.11) EPS.

Ballard Power Systems Stock Performance

BLDP stock remained flat at $2.84 during mid-day trading on Wednesday. The company’s stock had a trading volume of 413,965 shares, compared to its average volume of 2,969,004. The company has a fifty day moving average of $2.89 and a two-hundred day moving average of $3.24. 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 52 week low of $2.42 and a 52 week high of $5.68. The company has a market cap of $849.98 million, a P/E ratio of -4.81 and a beta of 1.65.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on BLDP shares. Raymond James lowered 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 research report on Wednesday, March 13th. Truist Financial restated a “hold” rating and issued a $3.00 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. TD Securities reduced their price objective on Ballard Power Systems from $3.00 to $2.50 in a research report on Thursday, April 25th. Citigroup dropped their target price on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Jefferies Financial Group reduced their price target on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating on the stock in a report on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average 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.