Roth Capital Sticks to Its Hold Rating for Ballard Power Systems (BLDP)

By Ryan Adsit

In a report released today, Craig Irwin from Roth Capital reiterated a Hold rating on Ballard Power Systems (BLDPResearch Report), with a price target of $2.50. The company’s shares closed on Friday at $2.74, close to its 52-week low of $2.57.

According to TipRanks.com, Irwin is a 3-star analyst with an average return of 1.4% and a 46.6% success rate. Irwin covers the Industrial Goods sector, focusing on stocks such as Revolution Lighting Technologies, Orion Energy Systems, and Lsi Industries Inc.

Ballard Power Systems has an analyst consensus of Moderate Buy, with a price target consensus of $3.80, which is a 38.7% upside from current levels. In a report issued on November 2, B.Riley FBR also downgraded the stock to Hold with a $3 price target.

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Based on Ballard Power Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $6.02 million. In comparison, last year the company had a GAAP net loss of $1.03 million.

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Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.