BLDP FY2024 EPS Forecast Raised by National Bank Financial

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) – Investment analysts at National Bank Financial lifted their FY2024 earnings estimates for Ballard Power Systems in a research report issued to clients and investors on Tuesday, November 5th. National Bank Financial analyst R. Merer now expects that the technology company will post earnings per share of ($0.49) for the year, up from their prior estimate 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.

Several other research firms have also issued reports on BLDP. Citigroup reduced their target price on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a report on Monday, September 30th. CIBC reduced their price objective on shares of Ballard Power Systems from $1.60 to $1.40 and set an “underperformer” rating for the company in a research note on Wednesday. Wells Fargo & Company lowered their target price on shares of Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 13th. Raymond James cut their price target on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a research note on Wednesday, August 14th. Finally, TD Securities downgraded Ballard Power Systems from a “hold” rating to a “sell” rating and lowered their price objective for the company from $2.50 to $1.50 in a research report on Monday, August 12th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $2.87.

Ballard Power Systems Stock Performance

Shares of BLDP opened at $1.34 on Friday. The business has a 50-day simple moving average of $1.68 and a two-hundred day simple moving average of $2.21. The company has a quick ratio of 10.05, a current ratio of 9.01 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 52 week low of $1.32 and a 52 week high of $4.02. The stock has a market cap of $401.22 million, a price-to-earnings ratio of -1.22 and a beta of 1.78.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its quarterly earnings data on Monday, August 12th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm 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 19.96% and a negative net margin of 357.78%. Ballard Power Systems’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) EPS.

Institutional Trading of Ballard Power Systems

A number of institutional investors have recently bought and sold shares of the stock. Decade Renewable Partners LP bought a new stake in Ballard Power Systems in the second quarter worth about $450,000. Van ECK Associates Corp lifted its stake in shares of Ballard Power Systems by 8.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after acquiring an additional 186,833 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in Ballard Power Systems during the 2nd quarter valued at $219,000. Susquehanna Fundamental Investments LLC bought a new position in Ballard Power Systems in the 2nd quarter valued at $204,000. Finally, XTX Topco Ltd purchased a new stake in Ballard Power Systems in the second quarter worth $154,000. 28.02% of the stock is currently owned by 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.