National Bank Financial Predicts BLDP FY2024 Earnings

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Equities research analysts at National Bank Financial increased their FY2024 earnings estimates for Ballard Power Systems in a report issued on Tuesday, November 5th. National Bank Financial analyst R. Merer now anticipates that the technology company will earn ($0.49) per share for the year, up from their prior estimate of ($0.50). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.48) per share. National Bank Financial also issued estimates for Ballard Power Systems’ FY2025 earnings at ($0.37) EPS.

BLDP has been the subject of several other reports. Hsbc Global Res lowered shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Cormark reissued a “market perform” rating on shares of Ballard Power Systems in a research note on Monday, September 16th. TD Securities cut 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 research note on Monday, August 12th. HSBC lowered Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Lake Street Capital lowered their price objective on Ballard Power Systems from $15.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $2.78.

Ballard Power Systems Stock Up 0.7 %

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

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

Institutional Investors Weigh In On Ballard Power Systems

Large investors have recently added to or reduced their stakes in the stock. Decade Renewable Partners LP bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at approximately $450,000. Van ECK Associates Corp boosted its position in shares of Ballard Power Systems by 8.8% during 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 buying an additional 186,833 shares during the period. 3Chopt Investment Partners LLC purchased a new position in shares of Ballard Power Systems during the second quarter valued at approximately $219,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Ballard Power Systems during the second quarter valued at approximately $204,000. Finally, XTX Topco Ltd purchased a new stake in shares of Ballard Power Systems in the second quarter worth approximately $154,000. 28.02% of the stock is owned by 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 comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.