Ballard Power Systems Inc. to Post Q3 2022 Earnings of ($0.11) Per Share, B. Riley Forecasts (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDPGet Rating) (TSE:BLD) – Equities researchers at B. Riley boosted their Q3 2022 EPS estimates for shares of Ballard Power Systems in a research note issued to investors on Tuesday, May 10th. B. Riley analyst C. Souther now forecasts that the technology company will post earnings of ($0.11) per share for the quarter, up from their prior forecast of ($0.12). B. Riley also issued estimates for Ballard Power Systems’ Q4 2022 earnings at ($0.12) EPS, FY2022 earnings at ($0.47) EPS, FY2023 earnings at ($0.45) EPS and FY2024 earnings at ($0.23) EPS.

Other research analysts also recently issued research reports about the stock. Citigroup cut their target price on shares of Ballard Power Systems from $13.00 to $11.00 and set a “neutral” rating for the company in a research note on Wednesday, March 16th. National Bank Financial dropped their price objective on shares of Ballard Power Systems from $20.00 to $14.00 and set an “outperform” rating for the company in a research note on Tuesday, March 15th. BMO Capital Markets downgraded shares of Ballard Power Systems from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $23.00 to $10.00 in a research note on Monday, February 7th. Truist Financial dropped their price objective on shares of Ballard Power Systems from $18.00 to $13.00 and set a “hold” rating for the company in a research note on Monday, January 24th. Finally, National Bankshares dropped their price objective on shares of Ballard Power Systems from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.36.

Shares of BLDP stock opened at $6.04 on Thursday. The firm has a 50-day moving average price of $10.26 and a 200 day moving average price of $11.98. Ballard Power Systems has a twelve month low of $6.03 and a twelve month high of $19.66. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -15.89 and a beta of 1.69. The company has a current ratio of 14.78, a quick ratio of 14.16 and a debt-to-equity ratio of 0.01.

Ballard Power Systems (NASDAQ:BLDPGet Rating) (TSE:BLD) last announced its earnings results on Monday, May 9th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Ballard Power Systems had a negative net margin of 109.29% and a negative return on equity of 8.33%. The firm had revenue of $21.00 million during the quarter, compared to analyst estimates of $24.88 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in BLDP. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Ballard Power Systems by 4.1% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 419,615 shares of the technology company’s stock worth $5,883,000 after purchasing an additional 16,543 shares during the last quarter. Nicola Wealth Management LTD. grew its position in shares of Ballard Power Systems by 27.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 357,000 shares of the technology company’s stock valued at $4,474,000 after buying an additional 77,000 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Ballard Power Systems by 67.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,374 shares of the technology company’s stock valued at $80,000 after buying an additional 2,570 shares during the last quarter. BlackRock Inc. grew its position in shares of Ballard Power Systems by 918.3% during the 3rd quarter. BlackRock Inc. now owns 5,784,250 shares of the technology company’s stock valued at $81,268,000 after buying an additional 5,216,236 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of Ballard Power Systems during the 4th quarter valued at about $58,000. 35.47% of the stock is currently owned by hedge funds and other institutional investors.

About Ballard Power Systems (Get Rating)

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.

Featured Stories

Earnings History and Estimates for Ballard Power Systems (NASDAQ:BLDP)

Receive News & Ratings for Ballard Power Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ballard Power Systems and related companies with MarketBeat.com's FREE daily email newsletter.