Ballard Power Systems (USA) (BLDP) is Upgraded by FBR Capital to Outperform, Raises Price Target to $ 3

Ballard Power Systems (USA) (BLDP) was Upgraded by FBR Capital to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 3 from a previous price target of $1.50 . Earlier the firm had a rating of “Mkt Perform ” on the company shares. FBR Capital advised their investors in a research report released on Jul 28, 2016.

On the company’s financial health, Ballard Power Systems (USA) reported $-0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Oct 27, 2015. Analyst had a consensus of $-0.04. The company had revenue of $16.00 million for the quarter, compared to analysts expectations of $16.10 million. The company’s revenue was down -22.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.02 EPS.

Ballard Power Systems (USA) closed down -0.03 points or -1.47% at $2.01 with 31,07,595 shares getting traded on Thursday. Post opening the session at $2.1, the shares hit an intraday low of $1.92 and an intraday high of $2.15 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

Ballard Power Systems Inc. is engaged in development and commercialization of proton exchange membrane (PEM) fuel cell. The Company’s principal business is the design development manufacture sale and service of fuel cell products for a variety of applications focusing on the telecom backup power material handling bus and distributed generation markets. It also offers engineering services for various fuel cell applications. It offers tools and technologies for development optimization integration and validation of fuel cell components stacks and systems. It has a portfolio of commercial solutions including fuel cell stacks modules and systems. The Company’s fuel cell stacks include FCgen-1020ACS FCgen-1300 and FCvelocity-9SSL. Its fuel cell modules include FCvelocity-HD6. Its complete fuel cell systems include ElectraGen-ME ElectraGen-H2 and ClearGen.

Ballard Power Systems  (USA)

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