FY2024 Earnings Estimate for BLDP Issued By Roth Capital

Ballard Power Systems Inc. (NASDAQ:BLDP - Free Report) TSE: BLD - Analysts at Roth Capital increased their FY2024 earnings per share estimates for shares of Ballard Power Systems in a note issued to investors on Wednesday, November 6th. Roth Capital analyst C. Irwin now forecasts that the technology company will post earnings of ($0.47) per share for the year, up from their prior 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.

Ballard Power Systems (NASDAQ:BLDP - Get Free Report) TSE: BLD last released its earnings results on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $16.00 million for the quarter, compared to the consensus estimate of $19.36 million. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.

Other equities research analysts also recently issued reports about the stock. TD Securities downgraded shares of Ballard Power Systems from a "hold" rating to a "sell" rating and lowered their target price for the company from $2.50 to $1.50 in a report on Monday, August 12th. Wells Fargo & Company cut their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set an "underweight" rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group reduced their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a "hold" rating for the company in a research note on Tuesday, August 13th. HSBC lowered shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Cormark restated a "market perform" rating on shares of Ballard Power Systems in a report on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $2.87.

Ballard Power Systems Stock Up 0.7 %

Shares of BLDP stock traded up $0.01 on Friday, reaching $1.35. 3,384,814 shares of the stock were exchanged, compared to its average volume of 2,911,644. Ballard Power Systems has a twelve month low of $1.27 and a twelve month high of $4.02. The company has a current ratio of 9.01, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $404.22 million, a price-to-earnings ratio of -1.23 and a beta of 1.78. The business's 50 day moving average price is $1.67 and its 200 day moving average price is $2.20.

Hedge Funds Weigh In On Ballard Power Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Endowment Wealth Management Inc. purchased a new stake in shares of Ballard Power Systems in the first quarter valued at approximately $28,000. Tidal Investments LLC acquired a new stake in Ballard Power Systems in the 1st quarter valued at about $39,000. Westwood Holdings Group Inc. acquired a new stake in Ballard Power Systems during the 1st quarter worth $59,000. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems during the 2nd quarter valued at approximately $52,000. Finally, Daiwa Securities Group Inc. boosted its stake in Ballard Power Systems by 149.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock worth $54,000 after buying an additional 14,415 shares during the last quarter. 28.02% of the stock is currently owned by institutional investors.

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.