$20.90 Million in Sales Expected for Ballard Power Systems Inc (BLDP) This Quarter

Equities research analysts expect Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) to post $20.90 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Ballard Power Systems’ earnings. The highest sales estimate is $21.00 million and the lowest is $20.80 million. Ballard Power Systems reported sales of $20.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 1st.

On average, analysts expect that Ballard Power Systems will report full-year sales of $97.60 million for the current financial year, with estimates ranging from $95.50 million to $99.70 million. For the next year, analysts expect that the firm will report sales of $136.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ballard Power Systems.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last released its quarterly earnings results on Wednesday, March 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.04). Ballard Power Systems had a negative return on equity of 15.06% and a negative net margin of 28.30%. The company had revenue of $28.50 million for the quarter, compared to analyst estimates of $23.50 million.

BLDP has been the subject of several research analyst reports. BidaskClub downgraded shares of Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, January 1st. Zacks Investment Research upgraded shares of Ballard Power Systems from a “sell” rating to a “buy” rating and set a $3.25 price objective for the company in a report on Monday, January 7th. Finally, TheStreet upgraded shares of Ballard Power Systems from a “d” rating to a “c-” rating in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $3.45.

Shares of BLDP traded up $0.01 during mid-day trading on Friday, hitting $3.39. 12,057 shares of the company were exchanged, compared to its average volume of 622,281. Ballard Power Systems has a 1-year low of $2.25 and a 1-year high of $4.62. The company has a quick ratio of 4.87, a current ratio of 5.48 and a debt-to-equity ratio of 0.02. The company has a market cap of $788.56 million, a PE ratio of -25.92 and a beta of 2.16.

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC boosted its position in shares of Ballard Power Systems by 324.2% during the 3rd quarter. Virtu Financial LLC now owns 46,846 shares of the technology company’s stock worth $231,000 after purchasing an additional 35,802 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth approximately $325,000. HRT Financial LLC purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth approximately $132,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of Ballard Power Systems during the 3rd quarter worth approximately $215,000. Finally, Morgan Stanley boosted its position in shares of Ballard Power Systems by 37.4% during the 3rd quarter. Morgan Stanley now owns 780,867 shares of the technology company’s stock worth $3,356,000 after purchasing an additional 212,364 shares during the period. 2.14% of the stock is owned by institutional investors and hedge funds.

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 worldwide. The company provides motive power products, including FCveloCity-9SSL and FCveloCity-1020ACS fuel cell stacks, as well as FCveloCity modules for material handling, bus, commercial vehicle, and light rail applications.

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