BMO Capital Reaffirms Their Sell Rating on Ballard Power Systems (BLDP)

In a report released today, Ameet Thakkar from BMO Capital maintained a Sell rating on Ballard Power Systems, with a price target of $2.75.

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According to TipRanks, Thakkar is an analyst with an average return of -6.2% and a 54.05% success rate. Thakkar covers the Technology sector, focusing on stocks such as Nextpower Inc, Enphase Energy, and SolarEdge Technologies.

Ballard Power Systems has an analyst consensus of Hold, with a price target consensus of $4.15.

Based on Ballard Power Systems’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$19.42 million and a GAAP net loss of C$11.21 million. In comparison, last year the company earned a revenue of C$15.39 million and had a GAAP net loss of C$21.04 million

Based on the recent corporate insider activity of 40 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.