Overview
Ballard Power Systems Inc., based in Canada, operates predominantly in the clean energy sector, specifically focusing on the design, development, and manufacture of proton exchange membrane fuel cell products. Primarily serving the portable power, stationary power, and transportation markets, Ballard is a pioneer in developing fuel cell technology solutions aimed at reducing carbon emissions. Key projects include collaborations with major automotive and aerospace companies to integrate its fuel cell technologies into buses, commercial trucks, and even drones. Ballard's continued innovation and strategic partnerships aim to capitalize on the growing global shift towards sustainable energy solutions, further strengthening its market position in the burgeoning hydrogen fuel cell industry.
AI+ Ask Fintel’s AI assistant about Ballard Power Systems Inc..
Thinking about good questions…
Basic Stats
The share price of Ballard Power Systems Inc. as of September 5, 2025 is $1.99 / share. This is a decrease of -1.49% from the prior week. The market cap (or net worth) of Ballard Power Systems Inc. as of September 5, 2025 is $599.74 MM.
The Factor Analysis chart (below right) shows a view of Ballard Power Systems Inc. from a variety of lenses. Each factor shows how well the company ranks against all other companies in the Fintel global investing universe. Factor scores range from zero to 100, with 100 being most desirable, and 50 being average.
For example, a company with a Value Score of 100 would be the most undervalued company in our database. A company with a Value Score of zero would be the most overvalued.
| Market Cap | 599.74 MM |
| EV | 49.70 MM |
| Shares Out. | 299.87 MM |
| Earnings Date | |
| EPS (TTM) | -0.99 |
| Dividend Yield | |
| Ex-Dividend Date | |
| Borrow Rate | 1.35 |
| Short Shares Avail. | 0.25 MM |
| Short Interest | 13.17 MM |
| Short Float | 5.19 % |
| Days to Cover | 3.40 days |
| Risk Free Rate | 4.17 % |
| Price Change (1 yr) | 19.76 % |
| Volatility (1 yr) | 0.70 |
| Beta | 0.85 |
| Sharpe Ratio (1 yr) | 0.22 |
| Sortino Ratio (1 yr) | 0.39 |
| PE Ratio | -2.02 |
| Price/Book | 0.94 |
| Price/TBV | 0.95 |
| Book/Market | 1.06 |
| EBIT/EV | -5.96 |
| EBIT(3yr avg)/EV | -4.00 |
| ROA | -0.29 |
| ROE | -0.32 |
| ROIC | -0.45 |
| CROIC | -0.19 |
| OCROIC | -0.15 |
| Implied Volatility | 85.37 % |
| Put/Call OI Ratio | 0.11 |
Factor Scores range from 0 to 100, with 100 being most desirable. Larger circles are better. In situations where we have no data (e.g. no insider trades), we plot the score at 50 to avoid penalizing companies. However, a company that does not pay dividends will get a Dividend Score of Zero. Additionally, we inverted volatility to create a "stability" metric which is better when higher.
Price Target
The average one-year price target for Ballard Power Systems Inc. is $17.71. The forecasts range from a low of $17.54 to a high of $18.23. A stock’s price target is the price at which analysts consider it fairly valued with respect to its projected earnings and historical earnings. Analysts typically set price targets that correspond to their buy or sell recommendations.
Update Frequency: Monthly
Stock Upgrades/Downgrades
This card shows analyst upgrades/downgrades for Ballard Power Systems Inc.. An analyst rating is a classification that gives investors a sense of analyst sentiment about the direction and performance of an equity - usually a stock - over a period of time, typically 12 months.
The standard analyst ratings are generally as follows:
- Buy/Overweight/Outperform - Any of these ratings conveys an analyst’s belief that the stock is likely to outperform a market index (e.g. the S&P 500).
- Hold/Equal-Weight/Market Perform - Any of these ratings conveys an analyst’s belief that the stock is likely to perform in line with a market index.
- Sell/Underweight/Underperform - Any of these ratings suggest that an analyst believes the stock is likely to underperform a market index.
When an analyst upgrades a stock, they are signaling that the company’s fundamentals are being undervalued by investors. It could also mean they believe the market is underestimating the company’s potential. The opposite is true when a stock receives a downgrade.
The average rating of each individual analyst’s rating is the consensus rating for a stock. This gives investors a broader sense of the overall sentiment for that stock.
| Date | Analyst | Prior | Latest Recommendation |
Action |
|---|---|---|---|---|
| 2022-11-08 | Morningstar Inc. | Strong Buy | Maintains | |
| 2022-11-08 | STA Research | Buy | Maintains | |
| 2022-10-18 | Truist Securities | Hold | Initiate | |
| 2022-10-04 | STA Research | Buy | Maintains | |
| 2022-09-27 | TD Research | Speculative Buy | Maintains | |
| 2022-06-08 | Piper Sandler | Sell | Initiate | |
| 2022-05-12 | Wells Fargo | Hold | Initiate | |
| 2022-05-02 | Truist Securities | Hold | Initiate | |
| 2022-03-17 | CIBC Capital Markets | Neutral | Maintains | |
| 2022-03-16 | Citigroup | Hold | Initiate | |
| 2022-03-14 | STA Research | Buy | Maintains | |
| 2022-03-10 | Susquehanna Bancshares | Hold | Initiate | |
| 2022-02-08 | B. Riley Financial | Buy | Initiate | |
| 2022-01-06 | KeyBanc | Hold | Initiate | |
| 2021-11-10 | RaymondJamesFinancial | Outperform | Initiate | |
| 2021-11-09 | CIBC WG | Neutral | Reiterate | |
| 2021-10-31 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2021-10-30 | NATIONAL BANK FINANCIAL | Outperform | Outperform | Maintains |
| 2021-09-23 | STA Research | Buy | Initiate | |
| 2021-09-13 | Eight Capital | Neutral | Initiate | |
| 2021-08-09 | CIBC World Markets | Neutral | Maintains | |
| 2021-08-06 | CIBC World Markets | Neutral | Initiate | |
| 2021-08-04 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2021-08-03 | CORMARK SECURITIES INC. | Buy | Buy | Maintains |
| 2021-05-04 | Raymond James Financial | Strong Buy | Initiate | |
| 2021-01-20 | Citigroup | Buy | Initiate | |
| 2021-01-19 | BMO Capital | Outperform | Initiate | |
| 2021-01-14 | National Bank Of Canada | Outperform | Sector Perform | Downgrade |
| 2021-01-14 | TD Securities | Speculative Buy | Hold | Downgrade |
| 2021-01-07 | Raymond James Financial | Outperform | Initiate | |
| 2020-11-10 | HC Wainwright & Co. | Buy | Neutral | Downgrade |
| 2020-08-24 | Bernstein | Outperform | Initiate | |
| 2020-06-18 | TD Securities | Hold | Initiate | |
| 2020-03-10 | H.C. Wainwright | Neutral | Buy | Upgrade |
| 2019-11-01 | Lake Street Capital | Buy | In-Line | Upgrade |
| 2019-11-01 | HC Wainwright | Buy | Neutral | Downgrade |
| 2019-11-01 | H.C. Wainwright | Buy | Neutral | Downgrade |
| 2019-07-01 | Roth Capital | Neutral | Sell | Downgrade |
| 2017-09-18 | FBR Capital | Buy | Maintains | |
| 2016-07-28 | FBR Capital | Market Perform | Outperform | Upgrade |
| 2015-07-14 | H.C. Wainwright | Buy | Initiate | |
| 2015-02-26 | Sidoti & Co. | Buy | Neutral | Downgrade |
| 2015-02-12 | Lake Street | Hold | Buy | Upgrade |
| 2014-11-04 | Roth Capital | Buy | Initiate | |
| 2014-09-16 | Sidoti & Co. | Neutral | Buy | Upgrade |
| 2014-06-18 | Jennings Capital | Buy | Initiate | |
| 2014-03-11 | Lake Street | Buy | Hold | Downgrade |
| 2014-02-27 | Byron Capital Markets | Buy | Hold | Downgrade |
| 2014-02-26 | Sidoti & Co. | Neutral | Buy | Upgrade |
| 2013-04-12 | Sidoti & Co. | Neutral | Initiate | |
| 2024-12-04 | CIBC | Underperformer | Underperformer | Maintains |
| 2025-03-14 | BMO Capital | Underperform | Underperform | Maintains |
| 2025-03-14 | Roth MKM | Neutral | Neutral | Maintains |
| 2025-04-17 | Citigroup | Neutral | Sell | Downgrade |
| 2025-04-14 | Susquehanna | Neutral | Neutral | Maintains |
| 2025-08-13 | Wells Fargo | Underweight | Underweight | Maintains |
| 2025-05-12 | UBS | Neutral | Neutral | Maintains |
| 2025-08-12 | Roth Capital | Neutral | Neutral | Maintains |
| 2025-08-12 | BMO Capital | Underperform | Underperform | Maintains |
| 2025-07-21 | Susquehanna | Neutral | Neutral | Maintains |
| 2025-08-11 | Lake Street | Buy | Hold | Downgrade |
