Ballard Power Systems (NASDAQ:BLDP – Get Rating) (TSE:BLD) released 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. Ballard Power Systems had a negative return on equity of 13.51% and a negative net margin of 182.86%. The business had revenue of $20.50 million during the quarter, compared to analysts’ expectations of $25.62 million. During the same period in the previous year, the business posted ($0.15) earnings per share. The firm’s revenue for the quarter was down 44.1% compared to the same quarter last year.
Ballard Power Systems Stock Down 2.9 %
Ballard Power Systems stock opened at $4.97 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 13.65 and a current ratio of 14.44. The business has a 50-day moving average of $5.94 and a 200-day moving average of $5.98. Ballard Power Systems has a 1 year low of $4.43 and a 1 year high of $12.57.
Hedge Funds Weigh In On Ballard Power Systems
Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Ballard Power Systems by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,604,637 shares of the technology company’s stock valued at $52,660,000 after purchasing an additional 237,435 shares during the period. Legal & General Group Plc grew its position in shares of Ballard Power Systems by 31.3% in the 4th quarter. Legal & General Group Plc now owns 4,253,396 shares of the technology company’s stock valued at $20,342,000 after purchasing an additional 1,014,539 shares during the period. Norges Bank acquired a new position in shares of Ballard Power Systems in the 4th quarter valued at approximately $17,983,000. Morgan Stanley grew its position in shares of Ballard Power Systems by 20.9% in the 4th quarter. Morgan Stanley now owns 3,688,259 shares of the technology company’s stock valued at $17,667,000 after purchasing an additional 638,824 shares during the period. Finally, Millennium Management LLC grew its position in shares of Ballard Power Systems by 580.6% in the 2nd quarter. Millennium Management LLC now owns 3,352,040 shares of the technology company’s stock valued at $21,140,000 after purchasing an additional 2,859,528 shares during the period. 31.97% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
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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