Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) posted its quarterly earnings results on Friday. The technology company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.03, Briefing.com reports. The company had revenue of $20.50 million for the quarter, compared to analyst estimates of $25.62 million. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. Ballard Power Systems’s revenue for the quarter was down 44.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS.
Ballard Power Systems Stock Down 2.9 %
Shares of BLDP stock opened at $4.97 on Friday. The business’s 50 day moving average is $5.94 and its two-hundred day moving average is $5.98. Ballard Power Systems has a twelve month low of $4.43 and a twelve month high of $12.57. The company has a current ratio of 14.44, a quick ratio of 13.65 and a debt-to-equity ratio of 0.01.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in shares of Ballard Power Systems by 62.3% in the 1st quarter. Advisors Asset Management Inc. now owns 40,746 shares of the technology company’s stock valued at $474,000 after purchasing an additional 15,635 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in shares of Ballard Power Systems in the 1st quarter valued at approximately $393,000. CI Private Wealth LLC purchased a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $312,000. ExodusPoint Capital Management LP purchased a new position in shares of Ballard Power Systems in the 2nd quarter valued at approximately $295,000. Finally, Walleye Capital LLC acquired a new stake in shares of Ballard Power Systems in the 2nd quarter valued at approximately $247,000. 31.97% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
About Ballard Power Systems
Ballard Power Systems, Inc engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions.
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