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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) posted its earnings results 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 return on equity of 14.06% and a negative net margin of 172.63%. The business had revenue of $14.50 million for the quarter, compared to the consensus estimate of $17.55 million. During the same period in the previous year, the company posted ($0.11) earnings per share. Ballard Power Systems’s revenue for the quarter was up 9.8% compared to the same quarter last year.

Ballard Power Systems Stock Performance

BLDP opened at $2.88 on Thursday. Ballard Power Systems has a 12-month low of $2.42 and a 12-month high of $5.68. The business has a 50 day moving average of $2.89 and a 200-day moving average of $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 stock has a market cap of $861.96 million, a price-to-earnings ratio of -4.88 and a beta of 1.65.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research report on Wednesday. Raymond James lowered their target price on Ballard Power Systems from $4.50 to $4.00 and set a “market perform” rating for the company in a report on Wednesday, March 13th. Citigroup cut their price target on Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. National Bankshares dropped their target price on Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Truist Financial restated a “hold” rating and issued a $3.00 target price (down previously from $3.50) on shares of Ballard Power Systems in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $3.77.

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.