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

Key Points

• Ballard Power Systems reported a quarterly earnings per share (EPS) of ($0.08), exceeding analyst estimates of ($0.10), with revenue of $17.98 million slightly above expectations of $17.94 million.
• Shares of Ballard Power Systems fell 4.7% to $1.72, and the stock has fluctuated between a twelve-month low of $1.00 and a high of $2.28.
• Several analysts have issued ratings revisions, with Roth Capital maintaining a "neutral" rating and setting a price target of $1.80, while others have downgraded the stock to "hold" or "sell" ratings.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD issued its earnings results on Monday. The technology company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.02, Zacks reports. The company had revenue of $17.98 million for the quarter, compared to analyst estimates of $17.94 million. Ballard Power Systems had a negative net margin of 430.17% and a negative return on equity of 20.41%.

Ballard Power Systems Stock Down 4.7%

Shares of BLDP traded down $0.09 during trading on Tuesday, reaching $1.72. The company's stock had a trading volume of 1,811,308 shares, compared to its average volume of 8,854,733. The company has a fifty day moving average of $1.73 and a two-hundred day moving average of $1.44. Ballard Power Systems has a twelve month low of $1.00 and a twelve month high of $2.28. The company has a market cap of $514.28 million, a price-to-earnings ratio of -1.68 and a beta of 1.76. The company has a quick ratio of 8.13, a current ratio of 9.00 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Amundi raised its position in shares of Ballard Power Systems by 16.1% during the 1st quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after acquiring an additional 9,454 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Ballard Power Systems by 604.4% during the second quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company's stock valued at $757,000 after purchasing an additional 408,641 shares during the period. Royal Bank of Canada increased its holdings in shares of Ballard Power Systems by 29.1% during the first quarter. Royal Bank of Canada now owns 692,662 shares of the technology company's stock valued at $761,000 after purchasing an additional 156,014 shares during the period. Jane Street Group LLC increased its holdings in shares of Ballard Power Systems by 56.2% during the first quarter. Jane Street Group LLC now owns 1,485,948 shares of the technology company's stock valued at $1,635,000 after purchasing an additional 534,834 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Ballard Power Systems by 20.3% during the first quarter. Goldman Sachs Group Inc. now owns 4,916,541 shares of the technology company's stock valued at $5,408,000 after purchasing an additional 829,012 shares during the period. 28.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BLDP. Roth Capital reaffirmed a "neutral" rating and set a $1.80 price target on shares of Ballard Power Systems in a research note on Monday. Lake Street Capital downgraded Ballard Power Systems from a "buy" rating to a "hold" rating in a research note on Monday. BMO Capital Markets lifted their price target on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a research note on Tuesday. Wall Street Zen raised Ballard Power Systems to a "sell" rating in a research note on Thursday, May 8th. Finally, UBS Group cut their price target on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating for the company in a research note on Monday, May 12th. Seven investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.11.

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.

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