Ballard Power Systems (NASDAQ:BLDP) Announces Earnings Results

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) issued its earnings results on Monday. The technology company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02, Briefing.com reports. The business had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. Ballard Power Systems had a negative return on equity of 15.37% and a negative net margin of 177.82%. The business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS.

Ballard Power Systems Stock Down 2.3 %

BLDP stock traded down $0.05 during mid-day trading on Wednesday, reaching $1.93. The company had a trading volume of 683,668 shares, compared to its average volume of 2,815,434. The company has a market capitalization of $576.36 million, a price-to-earnings ratio of -3.18 and a beta of 1.77. The firm has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.77. Ballard Power Systems has a fifty-two week low of $1.77 and a fifty-two week high of $4.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday. HSBC dropped their price objective on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a report on Wednesday, May 8th. TD Securities downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating and reduced their target price for the stock from $2.50 to $1.50 in a research note on Monday. Susquehanna dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, National Bankshares decreased their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $3.18.

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.