Ballard Power Systems (NASDAQ:BLDP) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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 posted its earnings results on Monday. The technology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.02, reports. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%. The firm had revenue of $17.98 million for the quarter, compared to analysts' expectations of $17.94 million.

Ballard Power Systems Stock Up 9.3%

BLDP traded up $0.17 during trading on Friday, reaching $2.00. 7,932,205 shares of the stock traded hands, compared to its average volume of 5,774,703. The stock has a market cap of $599.74 million, a price-to-earnings ratio of -2.02 and a beta of 1.76. Ballard Power Systems has a fifty-two week low of $1.00 and a fifty-two week high of $2.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.13. The stock's 50-day simple moving average is $1.77 and its two-hundred day simple moving average is $1.45.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Daiwa Securities Group Inc. increased its stake in shares of Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company's stock worth $58,000 after purchasing an additional 19,170 shares during the period. Engineers Gate Manager LP bought a new position in Ballard Power Systems during the second quarter valued at about $83,000. Amundi increased its stake in Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company's stock valued at $74,000 after acquiring an additional 9,454 shares during the period. Headlands Technologies LLC boosted its holdings in Ballard Power Systems by 364.7% during the second quarter. Headlands Technologies LLC now owns 71,027 shares of the technology company's stock valued at $113,000 after purchasing an additional 55,742 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ballard Power Systems by 604.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 476,247 shares of the technology company's stock worth $757,000 after acquiring an additional 408,641 shares in the last quarter. Institutional investors and hedge funds own 28.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen upgraded Ballard Power Systems to a "sell" rating in a research report on Thursday, May 8th. UBS Group lowered their price target on Ballard Power Systems from $2.00 to $1.40 and set a "neutral" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company lifted their price target on Ballard Power Systems from $1.00 to $1.50 and gave the company an "underweight" rating in a research report on Wednesday. Roth Capital restated a "neutral" rating and issued a $1.80 target price (up from $1.25) on shares of Ballard Power Systems in a report on Monday. Finally, BMO Capital Markets lifted their target price on Ballard Power Systems from $1.00 to $1.10 and gave the stock an "underperform" rating in a report on Tuesday. Five analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1.51.

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.