Ballard Power Systems (NASDAQ:BLDP) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

Ballard Power Systems Stock Performance

NASDAQ BLDP opened at $1.97 on Wednesday. The company has a market capitalization of $589.96 million, a price-to-earnings ratio of -3.18 and a beta of 1.77. Ballard Power Systems has a twelve month low of $1.77 and a twelve month high of $4.63. The stock has a fifty day simple moving average of $2.37 and a 200 day simple moving average of $2.77. The company has a quick ratio of 10.88, a current ratio of 11.66 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

BLDP has been the subject of a number of research analyst reports. National Bankshares reduced their price target on Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday. Lake Street Capital reduced their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday. CIBC reiterated an “underperformer” rating and issued a $1.60 price target (down from $3.50) on shares of Ballard Power Systems in a research note on Tuesday. Susquehanna cut their price target on Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and cut their price target for the company from $2.50 to $1.50 in a research note on Monday. Five investment 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.18.

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.