Ballard Power Systems Inc. (NASDAQ:BLDP)
Ballard Power Systems Inc. (NASDAQ:BLDP) announced its membership in California’s “Fuel Cell Electric Bus Commercialization Consortium” (FCEBCC). This consortium will receive funding for the deployment of 20 zero-emission hydrogen fuel cell electric buses at two California transit agencies. Ten buses are to be deployed each with the Alameda Contra-Costa Transit District the Orange County Transportation Authority. News of the deal sent BDLP shares up almost 7% in after-hours trading on light volume.
Ballard will be providing 20 of its FCveloCity®-HD 85-kilowatt fuel cell engines to New Flyer of America Inc., a subsidiary of New Flyer Industries Inc. (“New Flyer”), the largest transit bus and motor coach manufacturer and parts distributor in North America. Ballard’s engines will power New Flyer 40-foot Xcelsior XHE40 fuel cell buses, which are planned to be delivered and in-service with AC Transit and OCTA by the end of 2018. The buses are to be supported by advanced hydrogen fueling infrastructure provided by The Linde Group.
Ballard Power Systems Inc. (NASDAQ:BLDP) has powered buses for over a cumulative 10 million kilometers (6.2 million miles) in revenue service – more than any other fuel cell company – and New Flyer has been very active in the North American fuel cell electric bus market. These efforts have contributed to improving the durability and reliability of these buses while demonstrating fuel economy 1.4x higher than diesel buses and 1.9x higher than CNG (compressed natural gas) buses.
Ballard Power Systems Inc. (NASDAQ:BLDP) sales slipped in 2015 from 2014 when it posted $68.7 million, In 2015 Ballard Power Systems Inc. (NASDAQ:BLDP) posted a sales figure of $56.5 million. BLDP shareholders have not experienced positive EPS in the last five years. In 2011 there was an EPS loss of $0.44, followed by losses of $0.48, $0.20, $0.22, and $0.04 respectively. Analysts from four firms follow Ballard Power Systems Inc. (NASDAQ:BLDP) and three rate BLDP as a “Strong Buy” while one rates the shares as a “Hold”. The consensus price target for BLDP is $3.
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|Last Price a/o 5:34 PM EST||$ 2.01|
|Market Cap (mlns)||$ 335.77|
|Shares Outstanding (mlns)||168.73|
|Share Float (mlns)||156.87|
|Short Interest Ratio||7.84|