Ballard Power Systems, Inc. (BLDP) Posts Earnings Results, Hits Estimates
Ballard Power Systems, Inc. (NASDAQ:BLDP) (TSE:BLD) released its quarterly earnings data on Wednesday. The technology company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01), Briefing.com reports. The company had revenue of $31.90 million during the quarter, compared to the consensus estimate of $28.33 million. Ballard Power Systems had a negative net margin of 5.57% and a negative return on equity of 4.37%. The firm’s revenue for the quarter was up 54.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.02) EPS.
Shares of Ballard Power Systems (NASDAQ:BLDP) traded up $0.57 during mid-day trading on Friday, reaching $5.64. 5,238,268 shares of the company traded hands, compared to its average volume of 2,299,535.
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A number of research firms have recently commented on BLDP. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a report on Friday. Cowen and Company reaffirmed a “hold” rating on shares of Ballard Power Systems in a report on Friday. Zacks Investment Research raised shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $5.50 price objective for the company in a report on Tuesday. Roth Capital set a $5.00 price objective on shares of Ballard Power Systems and gave the stock a “hold” rating in a report on Wednesday. Finally, FBR & Co reaffirmed a “buy” rating and set a $6.00 price objective on shares of Ballard Power Systems in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average 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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