Ballard Power Systems, Inc. (BLDP) Releases Earnings Results, Hits Estimates
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) posted its earnings results on Wednesday. The technology company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01), Briefing.com reports. Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.37%. The firm had revenue of $31.90 million during the quarter, compared to analyst estimates of $28.33 million. During the same period last year, the firm posted ($0.02) earnings per share. Ballard Power Systems’s revenue for the quarter was up 54.9% compared to the same quarter last year.
Shares of Ballard Power Systems (BLDP) traded up $0.57 on Friday, reaching $5.64. The company had a trading volume of 5,237,838 shares, compared to its average volume of 2,299,535.
A number of research analysts recently weighed in on BLDP shares. FBR & Co reissued a “buy” rating and issued a $6.00 target price (up from $3.50) on shares of Ballard Power Systems in a report on Monday, September 18th. BidaskClub raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a report on Friday, July 14th. HC Wainwright reissued a “buy” rating and issued a $6.00 target price (up from $3.00) on shares of Ballard Power Systems in a report on Friday, September 15th. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Tuesday, August 8th. Finally, Roth Capital set a $3.00 target price on shares of Ballard Power Systems and gave the company a “hold” rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Ballard Power Systems currently has an average rating of “Hold” and a consensus target price of $5.40.
Ballard Power Systems Company Profile
Ballard Power Systems Inc is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a range of applications, focusing on the power product markets of heavy-duty motive (consisting of bus and tram applications), portable power, material handling and backup power, as well as the delivery of technology solutions, including engineering services, technology transfer and the license and sale of its intellectual property portfolio and fundamental knowledge for a range of fuel cell applications.
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