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

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

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $3.07 on Friday. The company has a current ratio of 12.25, a quick ratio of 11.60 and a debt-to-equity ratio of 0.01. Ballard Power Systems has a twelve month low of $2.42 and a twelve month high of $5.68. The company’s 50 day moving average is $2.89 and its 200 day moving average is $3.24. The company has a market cap of $918.82 million, a PE ratio of -5.20 and a beta of 1.65.

Wall Street Analysts Forecast Growth

BLDP has been the topic of several recent research reports. Wells Fargo & Company dropped their target price on shares of Ballard Power Systems from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Thursday. Citigroup reduced their price objective on shares of Ballard Power Systems from $4.50 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Piper Sandler dropped their target price on Ballard Power Systems from $3.00 to $2.30 and set an “underweight” rating on the stock in a research report on Wednesday, March 13th. TD Securities upped their price objective on Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Truist Financial reiterated 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 analysts have rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.74.

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.