Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD - Equities research analysts at Roth Capital raised their FY2024 earnings estimates for shares of Ballard Power Systems in a research report issued on Wednesday, May 8th. Roth Capital analyst C. Irwin now forecasts that the technology company will earn ($0.58) per share for the year, up from their prior forecast of ($0.60). The consensus estimate for Ballard Power Systems' current full-year earnings is ($0.51) per share. Roth Capital also issued estimates for Ballard Power Systems' FY2025 earnings at ($0.50) EPS.
Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). Ballard Power Systems had a negative return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. The company's revenue was up 9.8% on a year-over-year basis.
BLDP has been the subject of several other research reports. HSBC dropped their price target on shares of Ballard Power Systems from $4.10 to $3.80 and set a "buy" rating for the company in a research report on Wednesday. CIBC decreased their target price on shares of Ballard Power Systems from $3.75 to $3.50 and set a "neutral" rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a "hold" rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price target on shares of Ballard Power Systems from $3.50 to $3.00 and set an "underweight" rating for the company in a research report on Thursday. Finally, Truist Financial restated a "hold" rating and set a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.74.
Check Out Our Latest Stock Report on Ballard Power Systems
Ballard Power Systems Stock Performance
BLDP traded down $0.24 during midday trading on Friday, reaching $2.83. The company had a trading volume of 3,188,814 shares, compared to its average volume of 3,016,601. The stock has a market cap of $846.99 million, a PE ratio of -4.93 and a beta of 1.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 11.60 and a current ratio of 12.25. The business has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $3.24. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68.
Hedge Funds Weigh In On Ballard Power Systems
Several large investors have recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in shares of Ballard Power Systems by 2.6% during the 3rd quarter. Mackenzie Financial Corp now owns 115,748 shares of the technology company's stock valued at $393,000 after acquiring an additional 2,974 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ballard Power Systems by 27.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,910,970 shares of the technology company's stock worth $14,353,000 after buying an additional 849,311 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in Ballard Power Systems in the 3rd quarter worth about $48,000. CIBC Asset Management Inc boosted its holdings in Ballard Power Systems by 2.8% in the 3rd quarter. CIBC Asset Management Inc now owns 241,827 shares of the technology company's stock worth $893,000 after buying an additional 6,494 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Ballard Power Systems by 5.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 404,305 shares of the technology company's stock worth $1,484,000 after buying an additional 19,245 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.
About Ballard Power Systems
(
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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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