Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) – Analysts at KeyCorp increased their Q3 2022 earnings per share estimates for shares of Ballard Power Systems in a note issued to investors on Monday, July 18th. KeyCorp analyst S. Karp now forecasts that the technology company will post earnings of ($0.13) per share for the quarter, up from their prior forecast of ($0.14). KeyCorp has a “Sector Weight” rating on the stock. The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.53) per share. KeyCorp also issued estimates for Ballard Power Systems’ FY2023 earnings at ($0.51) EPS, FY2024 earnings at ($0.48) EPS and FY2025 earnings at ($0.42) EPS.
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last announced its earnings results on Monday, May 9th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $21.00 million for the quarter, compared to the consensus estimate of $24.88 million. Ballard Power Systems had a negative net margin of 126.91% and a negative return on equity of 10.21%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.06) earnings per share.
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Several other brokerages have also issued reports on BLDP. Raymond James dropped their price target on Ballard Power Systems from $14.00 to $9.00 and set an “outperform” rating for the company in a research note on Tuesday, May 10th. National Bankshares cut their target price on Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 10th. B. Riley decreased their price target on shares of Ballard Power Systems from $15.00 to $12.00 in a research note on Tuesday, May 10th. Finally, Piper Sandler initiated coverage on shares of Ballard Power Systems in a research note on Wednesday, June 8th. They issued a “sell” rating and a $5.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Ballard Power Systems has an average rating of “Hold” and an average price target of $12.86.
Ballard Power Systems Stock Up 2.4 %
NASDAQ BLDP opened at $7.31 on Thursday. Ballard Power Systems has a 52-week low of $5.75 and a 52-week high of $19.66. The company has a fifty day moving average of $6.83 and a 200-day moving average of $9.08. The company has a quick ratio of 14.61, a current ratio of 15.36 and a debt-to-equity ratio of 0.01.
Hedge Funds Weigh In On Ballard Power Systems
Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in Ballard Power Systems in the first quarter valued at $25,988,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Ballard Power Systems by 154.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,102,655 shares of the technology company’s stock valued at $26,414,000 after purchasing an additional 1,275,124 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of Ballard Power Systems by 38.4% during the first quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock valued at $37,855,000 after buying an additional 902,351 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ballard Power Systems by 53.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,032,240 shares of the technology company’s stock valued at $23,655,000 after buying an additional 704,218 shares during the period. Finally, Federated Hermes Inc. raised its stake in Ballard Power Systems by 41.0% in the first quarter. Federated Hermes Inc. now owns 1,594,766 shares of the technology company’s stock worth $18,563,000 after buying an additional 463,572 shares in the last quarter. 35.47% of the stock is owned by hedge funds and other institutional investors.
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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and backup power.
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