Ballard Power Systems Inc. (USA) (BLDP) Company Brief

Posted by on Jul 19, 2010 | No comment

Shares of Ballard Power Systems Inc. (USA) (NASDAQ: BLDP) are up in today’s trading. The small cap stock reached a high of $1.87 in mid-day trading. At last check, it was up 4.52% to $1.85, with volume at 179,695.

The small cap stock has a 52-week range of $1.49-$3.25. It is currently trading below its 50-day and 200-day moving averages of $1.86 and $2.24, respectively. The small cap stock has seen support at $1.69. It has broken through its resistance level of $1.79 in today’s trading.

Currently, the Ballard stock has a consensus recommendation of Hold. The stock has 1 Buy, 1 Outperform, 2 Hold and 2 Underperform rating, at the moment.

Ballard is engaged in developing, manufacturing, selling and servicing of clean energy hydrogen fuel cells. The company is headquartered in Burnaby, British Columbia. The company has three business units; Fuel Cell Products, Contract Automotive and Material Products.

Last week, Ballard and Plug Power Inc. (NASDAQ: PLUG), the Latham, New York-based provider of clean, reliable energy solutions, announced that they extended their existing supply agreement through 2014. The agreement is effective immediately. As per the agreement, Ballard will continue to be the exclusive supplier of fuel cell stacks for Plug Power’s full suite of GenDrive™ power units.

The agreement will enable both companies to continue with their leadership as the providers of fuel cell energy products.

Commenting on the agreement, John Sheridan, Ballard’s President and CEO said that the company is pleased to extend the supply agreement with Power Plug. Sheridan said that the partnership between the two companies will allow penetration and growth of fuel cell solutions in the North American material handling market.

Ballard reported its first-quarter financial results on April 28, 2010. The company reported first-quarter consolidated revenue of $11.9 million, up 47% from the same period last year. The company’s fuel cell product shipments stood at 328 units, up 73% from the same period last year. At the end of the first-quarter, Ballard Power reported a net loss of $10 million, or $0.12 per share. The company had a negative cash flow from operations of $14.2 million, compared with a negative cash flow from operations of $8.6 million.

Ballard will report its second-quarter financial results on July 29, 2010.

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About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

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