Ballard Power Systems Gets a Hold Rating from Roth Capital

By Jason Carr

In a report released today, Craig Irwin from Roth Capital reiterated a Hold rating on Ballard Power Systems (NASDAQ: BLDP), with a price target of $3. The company’s shares opened today at $2.93.

Irwin noted:

“We see Ballard as well prepared to move through an execution phase that can bring the company to sustainable profitability within just a handful of quarters.”

According to TipRanks.com, Irwin is a 3-star analyst with an average return of 1.1% and a 43.9% success rate. Irwin covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, Maxwell Technologies, and Darling Ingredients.

Ballard Power Systems has an analyst consensus of Moderate Buy, with a price target consensus of $3.17.

Based on Ballard Power Systems’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $22.66 million and GAAP net loss of $2.94 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.