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

Key Points

• Ballard beat expectations, reporting Q EPS of ($0.04) vs. a consensus ($0.06) estimate (beat of $0.02), but still shows a deeply negative net margin (91.5%) and negative return on equity (-14.62%).
• Shares jumped to $4.00 on the news (near a 52‑week high of $4.10) with ~3.43M shares traded; the company has a $1.21B market cap, a negative P/E, and a consensus analyst rating of "Reduce" with an average target of $2.69.
• Institutional investors (e.g., Amundi, Vontobel, Bank of Montreal) have recently increased stakes—institutions own ~28%—and the balance sheet shows low leverage (debt/equity 0.03) with very strong liquidity (current ratio ~9.86, quick ratio ~9.14).

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD issued its quarterly earnings data on Tuesday. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.02, Zacks reports. Ballard Power Systems had a negative net margin of 91.50% and a negative return on equity of 14.62%.

Ballard Power Systems Stock Performance

Shares of BLDP stock traded up $0.71 during midday trading on Tuesday, hitting $4.00. The company had a trading volume of 3,427,910 shares, compared to its average volume of 3,395,686. The company's 50 day simple moving average is $2.57 and its 200 day simple moving average is $2.72. Ballard Power Systems has a 52-week low of $1.18 and a 52-week high of $4.10. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of -13.42 and a beta of 1.94. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.86 and a quick ratio of 9.14.

Institutional Trading of Ballard Power Systems

Hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi raised its holdings in Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company's stock worth $74,000 after purchasing an additional 9,454 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in Ballard Power Systems by 27.7% in the 4th quarter. Vontobel Holding Ltd. now owns 46,097 shares of the technology company's stock valued at $118,000 after purchasing an additional 10,000 shares in the last quarter. Intesa Sanpaolo S.p.A. acquired a new position in Ballard Power Systems during the 4th quarter worth approximately $28,000. Bank of Montreal Can raised its stake in shares of Ballard Power Systems by 43.3% during the 4th quarter. Bank of Montreal Can now owns 49,374 shares of the technology company's stock worth $126,000 after buying an additional 14,920 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in shares of Ballard Power Systems by 12.4% during the 3rd quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company's stock worth $397,000 after buying an additional 16,204 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company's stock.

Analyst Ratings Changes

BLDP has been the topic of several research reports. Wells Fargo & Company raised their price objective on Ballard Power Systems from $1.50 to $2.00 and gave the stock an "underweight" rating in a report on Friday, March 27th. Weiss Ratings restated a "sell (d-)" rating on shares of Ballard Power Systems in a research report on Monday, April 20th. TD Cowen raised shares of Ballard Power Systems from a "sell" rating to a "hold" rating in a report on Friday, January 9th. Finally, TD Securities upgraded shares of Ballard Power Systems from a "sell" rating to a "hold" rating and set a $2.50 price target for the company in a research report on Friday, January 9th. Ten analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $2.69.

About Ballard Power Systems

Ballard Power Systems NASDAQ: BLDP is a Canadian technology company specializing in the development and manufacture of proton exchange membrane (PEM) fuel cell products. Headquartered in Vancouver, British Columbia, Ballard designs and sells fuel cell stacks and modules that enable zero-emission power generation for a variety of applications, including heavy-duty motive systems, backup power, material handling equipment, and portable power solutions.

Since its founding in 1979, Ballard has built a strong intellectual property portfolio and a track record of innovation in PEM fuel cell technology.

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