Ballard Power Systems (NASDAQ:BLDP) Posts Earnings Results, Misses Estimates By $0.01 EPS

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

Ballard Power Systems Trading Up 0.4 %

NASDAQ BLDP opened at $2.84 on Wednesday. The stock’s 50 day moving average is $2.89 and its 200 day moving average is $3.24. 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 capitalization of $849.98 million, a PE ratio of -4.81 and a beta of 1.65. Ballard Power Systems has a twelve month low of $2.42 and a twelve month high of $5.68.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BLDP. Jefferies Financial Group decreased their price target on Ballard Power Systems from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Tuesday, January 30th. Piper Sandler reduced their price target on shares of Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating for the company in a research report on Wednesday, March 13th. Citigroup reduced their target price on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. TD Securities decreased their target price on Ballard Power Systems from $3.00 to $2.50 in a research report on Thursday, April 25th. Finally, Raymond James cut their price target on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and an average target price of $3.94.

About Ballard Power Systems

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.