Ballard Power Systems (BLDP) Gets a Sell from BMO Capital

BMO Capital analyst Ameet Thakkar maintained a Sell rating on Ballard Power Systems today and set a price target of $1.40. The company’s shares closed yesterday at $3.98.

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Thakkar covers the Technology sector, focusing on stocks such as First Solar, Sunrun, and Enphase Energy. According to TipRanks, Thakkar has an average return of -22.6% and a 42.20% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Ballard Power Systems with a $2.01 average price target.

Based on Ballard Power Systems’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $17.84 million and a GAAP net loss of $24.28 million. In comparison, last year the company earned a revenue of $16 million and had a GAAP net loss of $31.46 million

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BLDP in relation to earlier this year.