$30.90 Million in Sales Expected for Ballard Power Systems Inc (NASDAQ:BLDP) This Quarter

Analysts predict that Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) will report sales of $30.90 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Ballard Power Systems’ earnings, with the lowest sales estimate coming in at $26.80 million and the highest estimate coming in at $33.70 million. Ballard Power Systems reported sales of $28.50 million during the same quarter last year, which indicates a positive year over year growth rate of 8.4%. The firm is scheduled to issue its next earnings results on Wednesday, March 4th.

On average, analysts expect that Ballard Power Systems will report full-year sales of $95.33 million for the current year, with estimates ranging from $91.30 million to $98.10 million. For the next year, analysts forecast that the business will post sales of $135.30 million, with estimates ranging from $134.70 million to $136.20 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ballard Power Systems.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last announced its earnings results on Wednesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). Ballard Power Systems had a negative net margin of 43.31% and a negative return on equity of 12.74%. The firm had revenue of $24.79 million during the quarter, compared to analysts’ expectations of $25.60 million.

BLDP has been the topic of several recent analyst reports. Lake Street Capital increased their target price on shares of Ballard Power Systems from $5.00 to $6.00 and gave the company an “in-line” rating in a research note on Friday, November 1st. HC Wainwright reissued a “hold” rating on shares of Ballard Power Systems in a research note on Tuesday, December 17th. BidaskClub raised shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 21st. ValuEngine downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research raised shares of Ballard Power Systems from a “sell” rating to a “hold” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. Ballard Power Systems currently has a consensus rating of “Hold” and an average price target of $5.08.

Shares of BLDP traded up $0.98 during midday trading on Monday, hitting $12.04. The stock had a trading volume of 6,745,290 shares, compared to its average volume of 2,692,486. Ballard Power Systems has a 1 year low of $2.85 and a 1 year high of $12.13. The firm has a market cap of $2.59 billion, a PE ratio of -66.89 and a beta of 1.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.91 and a quick ratio of 3.32. The stock’s 50 day moving average is $7.45 and its 200 day moving average is $5.62.

Hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Ballard Power Systems in the 2nd quarter worth about $41,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Ballard Power Systems by 60.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,405 shares of the technology company’s stock worth $56,000 after buying an additional 4,295 shares during the period. Great West Life Assurance Co. Can increased its stake in Ballard Power Systems by 175.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 27,279 shares of the technology company’s stock worth $133,000 after buying an additional 17,362 shares during the period. Toronto Dominion Bank increased its stake in Ballard Power Systems by 17.3% in the 2nd quarter. Toronto Dominion Bank now owns 38,386 shares of the technology company’s stock worth $157,000 after buying an additional 5,649 shares during the period. Finally, Virtu Financial LLC increased its stake in Ballard Power Systems by 75.5% in the 3rd quarter. Virtu Financial LLC now owns 40,748 shares of the technology company’s stock worth $199,000 after buying an additional 17,525 shares during the period. 4.35% of the stock is currently owned by institutional investors.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.

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