National Bank Financial Analysts Lower Earnings Estimates for Ballard Power Systems Inc. (NASDAQ:BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Analysts at National Bank Financial cut their Q3 2024 EPS estimates for shares of Ballard Power Systems in a research report issued on Monday, September 16th. National Bank Financial analyst R. Merer now expects that the technology company will post earnings of ($0.16) per share for the quarter, down from their prior forecast of ($0.13). 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’ FY2024 earnings at ($0.50) EPS and FY2025 earnings at ($0.42) EPS.

Several other equities research analysts also recently weighed in on the company. Cibc World Mkts downgraded Ballard Power Systems from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 13th. Jefferies Financial Group lowered their target price on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Truist Financial dropped their price target on shares of Ballard Power Systems from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Susquehanna reduced their price objective on shares of Ballard Power Systems from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, TD Securities cut Ballard Power Systems from a “hold” rating to a “sell” rating and dropped their target price for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.11.

Ballard Power Systems Trading Down 4.6 %

Shares of BLDP stock opened at $1.67 on Thursday. The company has a market capitalization of $499.98 million, a P/E ratio of -2.69 and a beta of 1.78. The company has a current ratio of 10.90, a quick ratio of 10.05 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $1.96 and its two-hundred day moving average is $2.51. Ballard Power Systems has a twelve month low of $1.61 and a twelve month high of $4.02.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Monday, August 12th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.02. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. The firm had revenue of $16.00 million for the quarter, compared to analyst estimates of $19.36 million. During the same quarter last year, the company posted ($0.10) earnings per share. The business’s revenue was up 4.6% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC increased its holdings in Ballard Power Systems by 75.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock valued at $90,000 after acquiring an additional 10,484 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ballard Power Systems during the 4th quarter worth approximately $192,000. TD Asset Management Inc raised its position in shares of Ballard Power Systems by 3.7% during the 4th quarter. TD Asset Management Inc now owns 680,378 shares of the technology company’s stock worth $2,533,000 after purchasing an additional 24,287 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Ballard Power Systems by 25.0% in the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock valued at $1,873,000 after buying an additional 100,700 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in Ballard Power Systems during the 4th quarter valued at $148,000. Institutional investors and hedge funds 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.