Ballard Power Systems (NASDAQ:BLDP) Releases Quarterly Earnings Results

Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) released its quarterly earnings results on Friday. The technology company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.03, Briefing.com reports. Ballard Power Systems had a negative net margin of 182.86% and a negative return on equity of 13.51%. The company had revenue of $20.50 million for the quarter, compared to analysts’ expectations of $25.62 million. During the same period last year, the company earned ($0.15) EPS. The firm’s revenue for the quarter was down 44.1% compared to the same quarter last year.

Ballard Power Systems Stock Down 2.9 %

Shares of NASDAQ BLDP opened at $4.97 on Friday. Ballard Power Systems has a fifty-two week low of $4.43 and a fifty-two week high of $12.57. The firm’s 50-day simple moving average is $5.94 and its 200 day simple moving average is $5.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.65 and a current ratio of 14.44.

Institutional Investors Weigh In On Ballard Power Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates bought a new stake in shares of Ballard Power Systems during the fourth quarter valued at about $60,000. Deutsche Bank AG raised its stake in shares of Ballard Power Systems by 2,001.4% during the fourth quarter. Deutsche Bank AG now owns 14,710 shares of the technology company’s stock valued at $70,000 after purchasing an additional 14,010 shares in the last quarter. PDT Partners LLC bought a new stake in Ballard Power Systems in the second quarter worth about $83,000. Bridgewater Associates LP bought a new stake in Ballard Power Systems in the first quarter worth about $124,000. Finally, American Century Companies Inc. raised its position in Ballard Power Systems by 152.2% in the fourth quarter. American Century Companies Inc. now owns 27,713 shares of the technology company’s stock worth $133,000 after acquiring an additional 16,726 shares in the last quarter. 31.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company cut shares of Ballard Power Systems from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Friday, January 6th. Scotiabank assumed coverage on shares of Ballard Power Systems in a research report on Thursday, March 9th. They issued a “sector perform” rating and a $7.25 target price on the stock. BMO Capital Markets assumed coverage on shares of Ballard Power Systems in a research report on Thursday, December 8th. They issued a “market perform” rating and a $5.50 target price on the stock. Truist Financial decreased their target price on shares of Ballard Power Systems from $7.00 to $6.00 in a research report on Wednesday. Finally, National Bankshares decreased their target price on shares of Ballard Power Systems from $8.00 to $7.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 17th. Two analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.25.

Ballard Power Systems Company Profile

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Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.