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

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) issued its earnings results on Thursday. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01, Zacks reports. Ballard Power Systems had a negative return on equity of 21.52% and a negative net margin of 409.35%.

Ballard Power Systems Price Performance

Shares of BLDP opened at $3.19 on Friday. The firm has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $2.16. The stock has a market cap of $958.86 million, a PE ratio of -3.22 and a beta of 1.84. Ballard Power Systems has a 1-year low of $1.00 and a 1-year high of $4.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.31 and a quick ratio of 8.32.

Wall Street Analyst Weigh In

BLDP has been the subject of a number of analyst reports. Roth Capital upped their price objective on shares of Ballard Power Systems from $1.25 to $1.80 and gave the company a “neutral” rating in a report on Monday, August 11th. Lake Street Capital lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Monday, August 11th. Wells Fargo & Company increased their price target on shares of Ballard Power Systems from $1.00 to $1.50 and gave the company an “underweight” rating in a research note on Wednesday, August 13th. Susquehanna lifted their price target on shares of Ballard Power Systems from $2.00 to $3.30 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Zacks Research upgraded Ballard Power Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Ballard Power Systems has an average rating of “Reduce” and a consensus price target of $2.00.

Hedge Funds Weigh In On Ballard Power Systems

A number of hedge funds have recently made changes to their positions in BLDP. Daiwa Securities Group Inc. raised its position in Ballard Power Systems by 108.8% in the second quarter. Daiwa Securities Group Inc. now owns 36,792 shares of the technology company’s stock valued at $58,000 after purchasing an additional 19,170 shares during the period. Amundi boosted its position in shares of Ballard Power Systems by 16.1% during the first quarter. Amundi now owns 68,140 shares of the technology company’s stock worth $74,000 after buying an additional 9,454 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Ballard Power Systems in the second quarter valued at $83,000. Headlands Technologies LLC raised its holdings in shares of Ballard Power Systems by 364.7% in the 2nd quarter. Headlands Technologies LLC now owns 71,027 shares of the technology company’s stock valued at $113,000 after buying an additional 55,742 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Ballard Power Systems by 12.4% during the 3rd quarter. Mackenzie Financial Corp now owns 146,659 shares of the technology company’s stock worth $397,000 after acquiring an additional 16,204 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

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.