Ballard Power Systems (NASDAQ:BLDP) Given Market Perform Rating at Cormark

Cormark reiterated their market perform rating on shares of Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) in a report released on Monday, Marketbeat reports. Cormark also issued estimates for Ballard Power Systems’ Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.49) EPS, Q1 2025 earnings at ($0.11) EPS, Q2 2025 earnings at ($0.11) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.10) EPS and FY2025 earnings at ($0.42) EPS.

A number of other research analysts also recently issued reports on the company. Lake Street Capital cut their price target on Ballard Power Systems from $15.00 to $10.00 and set a buy rating on the stock in a report on Tuesday, August 13th. BMO Capital Markets lowered their price target on Ballard Power Systems from $2.25 to $1.70 and set an underperform rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group lowered their price target on Ballard Power Systems from $3.25 to $2.00 and set a hold rating for the company in a research report on Tuesday, August 13th. TD Securities cut Ballard Power Systems from a hold rating to a sell rating and lowered their price target for the stock from $2.50 to $1.50 in a research report on Monday, August 12th. Finally, Truist Financial decreased their price objective on Ballard Power Systems from $3.00 to $2.00 and set a hold rating for the company in a report on Tuesday, August 13th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $3.11.

Ballard Power Systems Stock Up 1.7 %

BLDP stock opened at $1.75 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 10.90 and a quick ratio of 10.05. Ballard Power Systems has a 1-year low of $1.61 and a 1-year high of $4.09. The stock has a market capitalization of $523.97 million, a P/E ratio of -2.82 and a beta of 1.78. The business has a fifty day moving average price of $1.98 and a 200-day moving average price of $2.52.

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, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $16.00 million during the quarter, compared to analyst estimates of $19.36 million. Ballard Power Systems had a negative return on equity of 16.20% and a negative net margin of 177.95%. Ballard Power Systems’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Equities analysts forecast that Ballard Power Systems will post -0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ballard Power Systems

Several large investors have recently bought and sold shares of BLDP. Van ECK Associates Corp increased its stake in Ballard Power Systems by 19.8% during the 1st quarter. Van ECK Associates Corp now owns 2,134,949 shares of the technology company’s stock worth $5,936,000 after buying an additional 353,098 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Ballard Power Systems by 49.5% during the 4th quarter. Rafferty Asset Management LLC now owns 714,153 shares of the technology company’s stock worth $2,642,000 after buying an additional 236,449 shares in the last quarter. Decade Renewable Partners LP purchased a new stake in Ballard Power Systems during the 2nd quarter worth approximately $450,000. Allianz Asset Management GmbH increased its stake in Ballard Power Systems by 25.0% during the 4th quarter. Allianz Asset Management GmbH now owns 503,000 shares of the technology company’s stock worth $1,873,000 after buying an additional 100,700 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new stake in Ballard Power Systems during the 2nd quarter worth approximately $219,000. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

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.