Ballard Power Systems Inc. (NASDAQ:BLDP – Get Rating) (TSE:BLD) – Equities researchers at Cormark cut their FY2023 EPS estimates for shares of Ballard Power Systems in a research note issued to investors on Tuesday, October 4th. Cormark analyst M. Whale now forecasts that the technology company will earn ($0.62) per share for the year, down from their previous forecast of ($0.48). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.61) per share.
Several other research firms have also commented on BLDP. TD Securities dropped their price objective on shares of Ballard Power Systems from $12.50 to $11.00 and set a “speculative buy” rating for the company in a research note on Monday. Citigroup decreased their target price on Ballard Power Systems from $10.00 to $7.50 in a research report on Tuesday. National Bankshares decreased their target price on Ballard Power Systems from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, August 11th. Cowen lifted their target price on Ballard Power Systems to $9.00 in a research report on Monday, August 15th. Finally, Piper Sandler initiated coverage on Ballard Power Systems in a research report on Wednesday, June 8th. They set a “sell” rating and a $5.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Ballard Power Systems presently has a consensus rating of “Hold” and a consensus price target of $11.19.
Ballard Power Systems Price Performance
NASDAQ BLDP opened at $6.47 on Thursday. The company has a quick ratio of 14.36, a current ratio of 15.16 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $7.64 and a two-hundred day moving average of $7.96. Ballard Power Systems has a 52 week low of $5.75 and a 52 week high of $19.66.
Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) last posted its earnings results on Wednesday, August 10th. The technology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). Ballard Power Systems had a negative net margin of 164.44% and a negative return on equity of 12.13%. The business had revenue of $20.90 million during the quarter, compared to analysts’ expectations of $24.16 million. During the same period last year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was down 16.4% compared to the same quarter last year.
Hedge Funds Weigh In On Ballard Power Systems
Several institutional investors and hedge funds have recently added to or reduced their stakes in BLDP. Millennium Management LLC grew its stake in Ballard Power Systems by 580.6% in the second quarter. Millennium Management LLC now owns 3,352,040 shares of the technology company’s stock valued at $21,140,000 after purchasing an additional 2,859,528 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Ballard Power Systems during the first quarter worth about $25,988,000. Legal & General Group Plc grew its stake in shares of Ballard Power Systems by 40.3% during the second quarter. Legal & General Group Plc now owns 3,157,100 shares of the technology company’s stock worth $25,067,000 after acquiring an additional 906,705 shares during the last quarter. Allianz Asset Management GmbH grew its stake 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 worth $37,855,000 after acquiring an additional 902,351 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake 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 worth $23,655,000 after acquiring an additional 704,218 shares during the last quarter. Hedge funds and other institutional investors own 28.25% of the company’s stock.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to email@example.com.
Before you consider Ballard Power Systems, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Ballard Power Systems wasn’t on the list.
While Ballard Power Systems currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.