National Bank Financial Predicts BLDP FY2024 Earnings

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Analysts at National Bank Financial upped their FY2024 EPS estimates for Ballard Power Systems in a research report issued on Tuesday, November 5th. National Bank Financial analyst R. Merer now forecasts that the technology company will earn ($0.49) 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. National Bank Financial also issued estimates for Ballard Power Systems’ FY2025 earnings at ($0.37) EPS.

BLDP has been the topic of a number of other reports. BMO Capital Markets decreased their price objective on Ballard Power Systems from $2.25 to $1.70 and set an “underperform” rating on the stock in a research note on Tuesday, August 13th. Susquehanna reduced their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Wednesday, October 16th. National Bankshares lowered their price target on shares of Ballard Power Systems from $4.00 to $3.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 13th. Cibc World Mkts lowered shares of Ballard Power Systems from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 13th. Finally, StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.78.

Ballard Power Systems Trading Up 0.7 %

Shares of BLDP stock opened at $1.35 on Friday. Ballard Power Systems has a 1 year low of $1.27 and a 1 year high of $4.02. The company’s fifty day simple moving average is $1.67 and its two-hundred day simple moving average is $2.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 10.05. The stock has a market capitalization 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 announced its quarterly 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. Ballard Power Systems had a negative net margin of 357.78% and a negative return on equity of 19.96%. The company had revenue of $16.00 million for the quarter, compared to analysts’ expectations of $19.36 million. During the same period in the prior year, the company posted ($0.10) EPS. Ballard Power Systems’s revenue was up 4.6% compared to the same quarter last year.

Hedge Funds Weigh In On Ballard Power Systems

A number of institutional investors have recently made changes to their positions in BLDP. Banque Cantonale Vaudoise grew its position in Ballard Power Systems by 7.7% in the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company’s stock worth $343,000 after acquiring an additional 13,639 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Ballard Power Systems by 12.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 291,019 shares of the technology company’s stock worth $535,000 after purchasing an additional 32,909 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Ballard Power Systems in the 2nd quarter worth about $219,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter valued at about $204,000. Finally, Scientech Research LLC purchased a new position in shares of Ballard Power Systems during the 2nd quarter valued at about $52,000. Institutional investors own 28.02% of the company’s stock.

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.