Q3 2023 EPS Estimates for Ballard Power Systems Inc. (NASDAQ:BLDP) Boosted by B. Riley

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Equities research analysts at B. Riley increased their Q3 2023 EPS estimates for Ballard Power Systems in a note issued to investors on Monday, November 6th. B. Riley analyst C. Souther now anticipates that the technology company will post earnings per share of ($0.12) for the quarter, up from their previous estimate of ($0.13). The consensus estimate for Ballard Power Systems’ current full-year earnings is ($0.47) per share. B. Riley also issued estimates for Ballard Power Systems’ Q4 2023 earnings at ($0.12) EPS, FY2023 earnings at ($0.45) EPS and FY2024 earnings at ($0.44) EPS.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings results on Wednesday, August 9th. The technology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.03. The business had revenue of $15.31 million during the quarter, compared to analysts’ expectations of $15.35 million. Ballard Power Systems had a negative net margin of 209.79% and a negative return on equity of 11.98%.

Other analysts have also recently issued reports about the stock. BMO Capital Markets decreased their price target on shares of Ballard Power Systems from $3.65 to $3.50 and set an “underperform” rating for the company in a report on Wednesday. Jefferies Financial Group decreased their price target on shares of Ballard Power Systems from $5.00 to $4.50 and set a “hold” rating for the company in a report on Monday, October 16th. National Bankshares reduced their target price on shares of Ballard Power Systems from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Wednesday. Susquehanna decreased their target price on shares of Ballard Power Systems from $5.00 to $4.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Truist Financial decreased their target price on shares of Ballard Power Systems from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.70.

Ballard Power Systems Stock Performance

BLDP stock opened at $3.46 on Thursday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 12.73 and a current ratio of 13.81. The stock has a market cap of $1.03 billion, a P/E ratio of -6.41 and a beta of 1.90. The firm has a 50 day simple moving average of $3.69 and a 200 day simple moving average of $4.18. Ballard Power Systems has a 52 week low of $3.13 and a 52 week high of $7.10.

Institutional Trading of Ballard Power Systems

Several large investors have recently modified their holdings of BLDP. JPMorgan Chase & Co. boosted its holdings in shares of Ballard Power Systems by 4.4% during the 1st quarter. JPMorgan Chase & Co. now owns 135,193 shares of the technology company’s stock worth $1,574,000 after buying an additional 5,739 shares during the period. AlphaCrest Capital Management LLC bought a new stake in shares of Ballard Power Systems during the 1st quarter worth $393,000. Dimensional Fund Advisors LP bought a new stake in shares of Ballard Power Systems during the 1st quarter worth $3,379,000. Aviva PLC boosted its holdings in shares of Ballard Power Systems by 981.9% during the 1st quarter. Aviva PLC now owns 184,341 shares of the technology company’s stock worth $2,149,000 after buying an additional 167,303 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Ballard Power Systems by 38.4% during the 1st quarter. Allianz Asset Management GmbH now owns 3,249,662 shares of the technology company’s stock worth $37,855,000 after buying an additional 902,351 shares during the period. 23.41% 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 markets, consisting of heavy-duty motives, such as bus, truck, rail, and marine applications; material handling; and power generation.