Ballard Power Systems (NASDAQ:BLDP) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) released its quarterly earnings data on Tuesday. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01), Briefing.com reports. Ballard Power Systems had a negative net margin of 172.63% and a negative return on equity of 14.06%. The firm had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis.

Ballard Power Systems Price Performance

BLDP stock remained flat at $2.84 during midday trading on Wednesday. 413,965 shares of the company’s stock traded hands, compared to its average volume of 2,969,004. The business has a fifty 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. The company has a quick ratio of 11.60, a current ratio of 12.25 and a debt-to-equity ratio of 0.01. The firm has a market cap of $849.98 million, a PE ratio of -4.81 and a beta of 1.65.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. TD Securities dropped their price objective on shares of Ballard Power Systems from $3.00 to $2.50 in a research note on Thursday, April 25th. Piper Sandler decreased their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a report on Wednesday, March 13th. Truist Financial reiterated a “hold” rating and issued a $3.00 price target (down from $3.50) on shares of Ballard Power Systems in a research report on Wednesday. Jefferies Financial Group lowered their target price on shares of Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research note on Tuesday, January 30th. Finally, Raymond James cut their target price on shares of Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating on the stock in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ballard Power Systems presently has a consensus rating of “Hold” and a consensus price target of $3.90.

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.