Ballard Power Systems (NASDAQ:BLDP) Announces Earnings Results

by · The Markets Daily

Ballard Power Systems (NASDAQ:BLDP – Get Free Report) (TSE:BLD) announced its quarterly earnings results on Thursday. The technology company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01, Zacks reports. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.

Ballard Power Systems Stock Performance

Shares of NASDAQ BLDP traded down $0.28 during mid-day trading on Thursday, reaching $3.16. 6,691,209 shares of the company were exchanged, compared to its average volume of 8,298,762. The stock has a market capitalization of $948.34 million, a P/E ratio of -3.17 and a beta of 1.84. The company has a quick ratio of 8.32, a current ratio of 9.31 and a debt-to-equity ratio of 0.03. The company’s 50-day simple moving average is $3.08 and its 200-day simple moving average is $2.16. Ballard Power Systems has a twelve month low of $1.00 and a twelve month high of $4.10.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on BLDP shares. BMO Capital Markets upped their target price on shares of Ballard Power Systems from $1.00 to $1.10 and gave the stock an “underperform” rating in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ballard Power Systems in a report on Wednesday, October 8th. Roth Capital lifted their target price on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a research note on Monday, August 11th. HSBC set a $3.40 price target on shares of Ballard Power Systems in a report on Thursday, October 9th. Finally, UBS Group upped their price target on shares of Ballard Power Systems from $1.40 to $3.50 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $2.00.

Check Out Our Latest Report on BLDP

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in BLDP. Amundi grew 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 worth $74,000 after buying an additional 9,454 shares in the last quarter. Mackenzie Financial Corp increased its stake in Ballard Power Systems by 12.4% in the third quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock valued at $397,000 after acquiring an additional 16,204 shares during the last quarter. Daiwa Securities Group Inc. raised its position in Ballard Power Systems by 108.8% during the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after purchasing an additional 19,170 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Ballard Power Systems in the 2nd quarter valued at $83,000. Finally, Headlands Technologies LLC boosted its holdings in shares of Ballard Power Systems by 364.7% in the 2nd 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. Institutional investors and hedge funds own 28.02% of the company’s stock.

About Ballard Power Systems

(Get Free Report)

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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