Ballard Power Systems Receives a Buy from H.C. Wainwright

By Austin Angelo

In a report released today, Amit Dayal from H.C. Wainwright assigned a Buy rating to Ballard Power Systems (NASDAQ: BLDP). The company’s shares closed yesterday at $4.29.

According to TipRanks.com, Dayal is ranked 0 out of 5 stars with an average return of -6.4% and a 41.8% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Revolution Lighting Technologies, Ascent Solar Technologies, and Capstone Turbine Corp.

Currently, the analyst consensus on Ballard Power Systems is Moderate Buy and the average price target is $3, representing a -30.1% downside.

In a report issued on September 6, FBR Capital also assigned a Buy rating to the stock.

Based on Ballard Power Systems’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $26.52 million and GAAP net loss of $1.2 million. In comparison, last year the company earned revenue of $17.65 million and had a GAAP net loss of $5.81 million.

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Ballard Power Systems, Inc. engages in design, development, manufacture, sale and service of fuel cell products. It provides clean energy fuel cell products enabling optimized power systems for a range of applications. The company operates through Fuel Cell Products and Services.