Equities research analysts predict that Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) will report sales of $28.00 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ballard Power Systems’ earnings. The lowest sales estimate is $26.90 million and the highest is $28.70 million. Ballard Power Systems posted sales of $20.64 million during the same quarter last year, which suggests a positive year over year growth rate of 35.7%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, November 1st.
On average, analysts expect that Ballard Power Systems will report full-year sales of $28.00 million for the current year, with estimates ranging from $104.00 million to $110.00 million. For the next year, analysts expect that the company will report sales of $129.83 million per share, with estimates ranging from $125.50 million to $134.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ballard Power Systems.
BLDP has been the subject of several analyst reports. FBR & Co restated a “buy” rating on shares of Ballard Power Systems in a report on Wednesday, September 6th. Zacks Investment Research upgraded Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 price target for the company in a report on Tuesday, August 8th. Roth Capital set a $3.00 price target on Ballard Power Systems and gave the company a “hold” rating in a report on Monday, July 31st. BidaskClub downgraded Ballard Power Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Finally, Cowen and Company set a $3.00 price target on Ballard Power Systems and gave the company a “hold” rating in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $5.00.
Shares of Ballard Power Systems (NASDAQ:BLDP) traded up 2.04% during trading on Friday, reaching $5.00. 1,278,196 shares of the company traded hands. The firm’s market capitalization is $881.72 million. Ballard Power Systems has a 12-month low of $1.61 and a 12-month high of $5.50. The company has a 50 day moving average price of $4.84 and a 200 day moving average price of $3.39.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLDP. Renaissance Technologies LLC increased its holdings in Ballard Power Systems by 483.1% in the 1st quarter. Renaissance Technologies LLC now owns 165,600 shares of the technology company’s stock worth $368,000 after buying an additional 137,200 shares in the last quarter. KCG Holdings Inc. increased its holdings in Ballard Power Systems by 220.0% in the 1st quarter. KCG Holdings Inc. now owns 204,521 shares of the technology company’s stock worth $454,000 after buying an additional 140,603 shares in the last quarter. First Trust Advisors LP increased its holdings in Ballard Power Systems by 16.9% in the 2nd quarter. First Trust Advisors LP now owns 181,943 shares of the technology company’s stock worth $528,000 after buying an additional 26,314 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Ballard Power Systems in the 2nd quarter worth about $105,000. Finally, First Manhattan Co. bought a new stake in Ballard Power Systems in the 3rd quarter worth about $126,000. Institutional investors own 2.80% of the company’s stock.
About Ballard Power Systems
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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