Roth Capital Issues Optimistic Estimate for BLDP Earnings

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Investment analysts at Roth Capital upped their FY2024 earnings estimates for Ballard Power Systems in a research report issued to clients and investors on Wednesday, November 6th. Roth Capital analyst C. Irwin now forecasts that the technology company will earn ($0.47) per share for the year, up from their previous forecast of ($0.50). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.48) per share. Roth Capital also issued estimates for Ballard Power Systems’ Q4 2024 earnings at ($0.12) EPS, Q4 2025 earnings at ($0.08) EPS and FY2025 earnings at ($0.35) EPS.

Other analysts have also issued research reports about the stock. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday. CIBC cut their price target on Ballard Power Systems from $1.60 to $1.40 and set an “underperformer” rating for the company in a research note on Wednesday. StockNews.com raised Ballard Power Systems to a “sell” rating in a research note on Friday, November 1st. Finally, Truist Financial cut their target price on Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Ballard Power Systems presently has a consensus rating of “Hold” and an average target price of $2.78.

Ballard Power Systems Trading Up 0.7 %

NASDAQ BLDP opened at $1.35 on Friday. The company has a quick ratio of 10.05, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 52 week low of $1.27 and a 52 week high of $4.02. The business has a 50 day moving average price of $1.67 and a 200-day moving average price of $2.20. The company has a market cap of $404.22 million, a price-to-earnings ratio of -1.23 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 19.96% and a negative net margin of 357.78%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.10) EPS.

Institutional Investors Weigh In On Ballard Power Systems

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of Ballard Power Systems by 8.8% in the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock valued at $5,224,000 after purchasing an additional 186,833 shares in the last quarter. TD Asset Management Inc grew its holdings in Ballard Power Systems by 1.2% during the 2nd quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock valued at $1,599,000 after buying an additional 8,154 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Ballard Power Systems by 7.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 565,053 shares of the technology company’s stock valued at $1,572,000 after buying an additional 38,662 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ballard Power Systems by 12.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after buying an additional 32,909 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Ballard Power Systems by 4.1% in the first quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after buying an additional 8,549 shares in the last quarter. Hedge funds and other institutional investors own 28.02% 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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.