Ballard Power Systems Gets a Hold Rating from Cowen & Co.

By Austin Angelo

In a report released yesterday, Jeff Osborne from Cowen & Co. reiterated a Hold rating on Ballard Power Systems (NASDAQ: BLDP), with a price target of $4. The company’s shares closed yesterday at $3.25.

According to TipRanks.com, Osborne is a 1-star analyst with an average return of -1.1% and a 43.3% success rate. Osborne covers the Industrial Goods sector, focusing on stocks such as TCP International Holdings Ltd, Honeywell International, and Capstone Turbine Corp.

Ballard Power Systems has an analyst consensus of Moderate Buy, with a price target consensus of $4.67.

Based on Ballard Power Systems’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $40.3 million and GAAP net loss of $2.9 million. In comparison, last year the company earned revenue of $30.68 million and had a GAAP net loss of $1.12 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 applications. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.