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Investing.com - KeyBanc maintained its Sector Weight rating on Ballard Power Systems (NASDAQ:BLDP), currently valued at $521.7 million, as the fuel cell company continues its corporate restructuring efforts under new leadership. The company’s stock, trading at $1.74, has shown resilience with a 25% gain over the past six months.
The hydrogen fuel cell manufacturer reported second-quarter results showing solid operational progress from the first quarter, including improvements in gross margin and operating expenses, excluding restructuring charges, according to KeyBanc analyst Sophie Karp. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 9.0, though it faces challenges with negative gross profit margins.
Ballard’s incoming CEO is currently evaluating the company’s China strategy, the timing of its Texas expansion plans, and various business verticals in light of current market conditions, with plans to present a comprehensive strategy at an investor day scheduled for 2026.
The company has not provided a revenue outlook for 2025 as the new management team continues to evaluate strategy while navigating market uncertainties.
KeyBanc maintained its Sector Weight rating on Ballard Power Systems stock, indicating a neutral stance on the company’s shares as the restructuring process continues.
In other recent news, Ballard Power Systems reported its financial results for the second quarter of 2025, showing a narrower-than-expected loss per share. The company posted an earnings per share (EPS) of -$0.08, slightly better than the forecasted -$0.09. However, revenue fell short of expectations, coming in at $17.8 million compared to the anticipated $18.69 million. CFRA reiterated its Hold rating on Ballard Power Systems, citing regulatory tailwinds despite reducing its sales projections for 2025 and 2026. The firm set a price target of $1.90, representing a 6.3x multiple on its 2025 sales-per-share estimate. Meanwhile, TD Cowen maintained a Sell rating with a $1.00 price target following Ballard’s announcement of a 30% operational expense reduction. BMO Capital also adjusted its outlook, lowering the price target to $110.00 from $112.00 while maintaining an Underperform rating. These developments reflect ongoing restructuring and strategic adjustments at Ballard Power Systems.
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