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Jefferies analyst Martin Comtesse reiterated a Hold rating on Ballard Power Systems with a $1.68 average price target, representing a -16.83% downside. The company reported a quarterly revenue of $17.84 million and a GAAP net loss of $24.28 million. Corporate insider sentiment is negative with an increase in insiders selling their shares.

Jefferies analyst Martin Comtesse has reiterated a Hold rating on Ballard Power Systems Inc. (NASDAQ: BLDP) with a revised average price target of $1.68, representing a -16.83% downside. The company reported a quarterly revenue of $17.84 million and a GAAP net loss of $24.28 million for the latest quarter [1].

The analyst's opinion comes amidst a backdrop of negative corporate insider sentiment, with an increase in insiders selling their shares. This move follows a strategic realignment announced by Ballard Power Systems to strengthen its commercial focus and achieve positive cash flow under new management [2].

Ballard Power Systems operates in the proton exchange membrane (PEM) fuel cell sector, providing solutions for various applications including bus, truck, rail, marine, stationary, and emerging markets. The company has a strategic alliance with Linamar Corporation for the co-development and sale of fuel cell powertrains and components for class 1 and 2 vehicles in North America and Europe [1].

The stock has been the subject of strong analyst interest, with 6 research reports published in the past 90 days. The consensus rating remains Reduce, with no buy ratings, 11 hold ratings, and 4 sell ratings [1]. Short interest in Ballard Power Systems has recently increased by 2.19%, indicating a bearish investor sentiment [1].

Ballard Power Systems' earnings are expected to grow in the coming year, from ($0.54) to ($0.40) per share. The company has a P/B Ratio of 0.92, suggesting potential undervaluation relative to its assets and liabilities [1].

The company's recent performance highlights the challenges faced in the transition to renewable energy solutions. However, the strategic realignment aims to address these issues and improve the company's financial health.

References:
[1] https://www.marketbeat.com/stocks/NASDAQ/BLDP/
[2] https://www.ballardpower.com/news/2025-08-12-ballard-reports-strategic-realignment-to-strengthen-commercial-focus-and-achieve-positive-cash-flow-under-new-management