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

Posted by on Jul 09, 2010 | No comment

Shares of Ballard Power Systems Inc. (USA) (NASDAQ: BLDP) climbed 2.40% to $1.71 in Friday’s early trading.

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 $1.94 and $2.26, respectively. The stock has seen support at $1.62 and has met with resistance at $1.74.

The consensus recommendation on the small cap stock is Hold. Currently, it has 1 Buy, 1 Outperform, 2 Hold and 2 Underperform ratings.

Ballard is a provider of clean energy fuel cell products that enable optimization of power systems for a range of applications.

For the first quarter of 2010, Ballard reported consolidated revenue of $11.9 million, up 47% from the same period last year. The company shipped 328 units of fuel cell product in the first quarter, representing a year-over-year growth 73%.

Ballard’s 12-month rolling order book stood at $29 million at the end of the first quarter. The company reported consolidated net loss of $10 million for the first quarter, compared with a consolidated net loss of $19.1 million it reported for the same period last year.

The company last announced that CFO Bruce Cousins would leave Ballad Power on June 14, 2010. He has been replaced by Tony Guglielmin, who was most recently CFO at Canada Line Rapid Transit Inc.

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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.

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