#5 - Ballard Power Systems (NASDAQ:BLDP)
Ballard Power Systems (NASDAQ: BLDP) stock is up over 120% in 2020. Ballard could benefit from Nikola’s commitment to create a fleet of hydrogen-powered trucks. The company’s technology needs to be seeded into heavy transports like buses, trains, and trucks. Without that the company will continue to report the uneven results that have vexed investors.
For example, according to the company’s website, Ballard has “shipped over 670 MW of PEM fuel cell products.” But that hasn’t yet translated to the company’s bottom line. In its first-quarter earnings report, Ballard missed in terms of revenue and earnings. Revenue came in at $24 million, which despite missing expectations was over 40% better on a YoY basis. However, it still did not help earnings which dropped from a loss of three cents per share to a loss of six cents per share.
Other positive notes included a 22% gross margin and $181.6 million in cash reserves. The company is predicting that hydrogen refueling infrastructure may benefit from stimulus packages that are being initiated in Europe, China and the United States.
About Ballard Power Systems
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.
Read More - Current Price
- $1.62
- Consensus Rating
- Reduce
- Ratings Breakdown
- 1 Buy Ratings, 9 Hold Ratings, 5 Sell Ratings.
- Consensus Price Target
- $2.77 (70.9% Upside)
