以上内容基于公开资料整理，不构成投资建议。 经济观察网巴拉德动力系统(BLDP)近7天股价呈现波动走势。根据行情数据，该股在2月6日单日上涨 5.91%，收盘价报2.15美元；2月9日小幅上涨0.93%，2月10日下跌0.46%，2月11日收盘价持平于2.16美 元。近5日累计涨幅为6.40%，但年初至今仍下跌14.96%，区间振幅达7.88%。股价波动主要受市场情绪 和板块轮动影响，电气设备零件板块同期上涨5.57%。机构观点机构对巴拉德动力系统持谨慎态度。公 开评级显示暂无机构给予买入建议，部分券商建议持有或卖出，提示公司仍处于亏损状态，需关注估值 风险。管理层在2025年第三季度业绩会议中强调成本控制和现金流改善目标，但近期无重大财报或业务 突破事件。 ...

Core Viewpoint - Ballard Power Systems will hold a conference call on March 12, 2026, to discuss the fourth quarter and full year 2025 operating results [1] Group 1: Conference Call Details - The conference call is scheduled for 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time) [1] - Participants can join the call by dialing +1-833-821-2814 (Canada/US toll free) or via a live webcast on Ballard's homepage [1] - A link to the webcast will be available in the 'Investor Hub' area of the 'Investors' section of Ballard's website after the call [1] Group 2: Company Overview - Ballard Power Systems aims to deliver fuel cell power for a sustainable planet [1] - The company specializes in zero-emission PEM fuel cells that facilitate the electrification of various mobility sectors, including buses, commercial trucks, trains, marine vessels, and stationary power [1]

Group 1 - The stock price of Ballard Power Systems (BLDP) experienced significant fluctuations, with a notable increase on January 2, 2026, following a sharp decline on November 14, 2025, when the company reported ongoing losses [1] - The company emphasized restructuring progress, cost control, and achieving positive cash flow during the Q3 2025 earnings call, and introduced a new bus product, FC Move SC1 [2] - The feasibility study for the capacity layout of the Shanghai membrane electrode factory is still ongoing as part of the company's strategic plans [2] Group 2 - As of January 2, 2026, brokerage firms provided mixed ratings, with some recommending a hold and others suggesting a sell, while no firms issued a buy recommendation [3] - There have been no new financial reports, major contracts, or product breakthroughs reported for the company between January 2 and February 11, 2026 [3]

Industry Overview - Hydrogen fuel cell technology is gaining traction as a long-term investment due to increasing government and industry efforts to decarbonize energy and transportation, offering zero-emission operation and high efficiency [1] - Expanding policy support, including subsidies and national hydrogen strategies, is reducing costs and accelerating the adoption of hydrogen technologies [1][2] Investment Momentum - Investment momentum is bolstered by advancements in electrolyzer technology, decreasing renewable energy costs, and the development of hydrogen infrastructure [2] - As green hydrogen scales, fuel cells are becoming more cost-competitive, enhancing their role in the global energy transition [2] Company Analysis: Bloom Energy (BE) - Bloom Energy is positioned to benefit from rising demand for low-carbon on-site power solutions, with its solid-oxide fuel cell technology providing efficient and ultra-clean electricity [3] - The company is expected to see significant earnings growth, with a projected year-over-year increase of 85.71% in 2025 and 78.75% in 2026 [8][9] - Bloom Energy's revenues are forecasted to increase by 37.74% in 2026, with a current return on invested capital (ROIC) of 5.22% [9][17] Company Analysis: Ballard Power Systems (BLDP) - Ballard Power is a leading provider of proton exchange membrane (PEM) fuel cell technology, suitable for heavy-duty transport applications [4] - The company is expected to experience earnings growth of 43.86% in 2025 and 25.78% in 2026, with revenues projected to rise by only 3.03% in 2026 [6][11] - Ballard Power's current ROIC is negative at -16.75%, indicating less efficient use of funds compared to Bloom Energy [17] Financial Performance - In the last six months, Bloom Energy's shares surged by 299.5%, significantly outperforming Ballard Power's gain of 59.6% [18] - Bloom Energy's shares are trading at a premium with a Price/Sales (P/S) ratio of 8.02X compared to Ballard Power's 7.85X [15] Conclusion - Both Bloom Energy and Ballard Power are focused on providing reliable, emission-free electricity, but Bloom Energy's stronger earnings estimates, higher ROIC, and superior price performance suggest it has an edge going into the new year [22][23]

Core Viewpoint - Plug Power Inc. (PLUG) and Ballard Power Systems Inc. (BLDP) are key players in the clean energy market, focusing on hydrogen fuel cell solutions for various sectors [1][2] Group 1: Plug Power Analysis - Plug Power has shown revenue growth of 11% and 21% in the first two quarters of 2025, with a 2% year-over-year increase in Q3 2025, driven by demand for electrolyzers and hydrogen fuel sales [3][4] - The company is expanding its GenEco proton exchange membrane (PEM) electrolyzers, with plans to mobilize over 230 MW across North America, Europe, and Australia [4][5] - Despite growth, Plug Power faces challenges with a gross margin of negative 67.9% in Q3 2025 and significant cash outflows totaling $387.2 million in the first nine months of the year [7][8] Group 2: Ballard Power Analysis - Ballard Power reported a 120% year-over-year revenue increase in Q3 2025, reaching $32.5 million, supported by strong order intake for PEM fuel cell products [9][10] - The company has a healthy order backlog of $132.8 million and has successfully reduced operating expenses by 36% year-over-year [10][13] - Ballard Power exited Q3 2025 with cash and cash equivalents of $525.7 million, indicating a strong liquidity position to support future growth [14] Group 3: Sales Estimates and Valuation - The Zacks Consensus Estimate for Plug Power's 2025 sales is $701.8 million, reflecting an 11.6% year-over-year growth, while Ballard Power's estimate is approximately $95.6 million, indicating a 37.2% increase [15][16] - Both companies are currently trading at a negative forward price-to-earnings ratio, reflecting ongoing challenges in profitability [20] Group 4: Conclusion - Plug Power's long-term potential is supported by its position in the green hydrogen market and innovative projects, but short-term challenges may hinder performance [21] - Ballard Power's strong momentum, product innovation, and solid liquidity position suggest it may be a more favorable investment option compared to Plug Power at this time [22][23]

Company Performance - Ballard Power Systems (BLDP) has returned approximately 59.6% year-to-date, significantly outperforming the average return of 16.4% for Utilities companies [4] - The Zacks Consensus Estimate for BLDP's full-year earnings has increased by 10.3% over the past 90 days, indicating improved analyst sentiment and a more positive earnings outlook [4] - Ballard Power Systems currently holds a Zacks Rank of 2 (Buy), suggesting a favorable investment outlook [3] Industry Context - Ballard Power Systems is part of the Utility - Electric Power industry, which consists of 59 companies and is currently ranked 71 in the Zacks Industry Rank [6] - The average return for stocks in the Utility - Electric Power industry this year is 20.1%, indicating that BLDP is performing better than its industry peers [6] - MYR Group (MYRG), another Utilities stock, has also shown strong performance with a year-to-date return of 52.9% and holds a Zacks Rank of 1 (Strong Buy) [5][6]

Core Viewpoint - Ballard Power Systems Inc. is recognized as a promising investment in the hydrogen sector, with recent analyst upgrades following a strong earnings report that exceeded revenue expectations [1][2]. Financial Performance - Ballard Power reported Q3 2025 revenue of $32.5 million, surpassing the anticipated $25 million [1]. - The company's earnings per share (EPS) for the quarter was -$0.09, which was better than the forecasted -$0.113 [2]. - The adjusted gross margin was slightly negative but outperformed the expected negative 9% [2]. Analyst Ratings and Price Targets - Jefferies raised its price target for Ballard Power's stock to $2.50 from $1.40 while maintaining a Hold rating [1]. - Susquehanna reaffirmed a Hold rating on Ballard's stock with a price target of $3.30 [3]. Product and Market Expansion - The strong revenue performance was driven by sales in bus and rail products, which accounted for 70% of total revenue [2]. - Analysts highlighted Ballard's plans to expand next-generation fuel cell platforms for bus and heavy-duty applications as a significant positive factor [3]. - Expected growth in data center backup power is also a contributing reason for the increased price target [3]. Company Overview - Ballard Power Systems Inc. specializes in the design, development, manufacture, and service of proton exchange membrane (PEM) fuel cell products, primarily for heavy-duty applications such as buses, trucks, rail, and marine transportation [4].

Core Viewpoint - Ballard Power Systems (BLDP) has been upgraded to a Zacks Rank 2 (Buy), indicating a positive trend in earnings estimates which is a significant factor influencing stock prices [1][2]. Earnings Estimates and Stock Price Movement - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [3][5]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [3]. Business Improvement Indicators - The upgrade in Ballard's rating reflects an improvement in the company's underlying business, suggesting that investor sentiment regarding this trend could drive the stock price higher [4]. Earnings Estimate Revisions - Ballard is projected to earn -$0.32 per share for the fiscal year ending December 2025, with no year-over-year change expected [7]. - Over the past three months, the Zacks Consensus Estimate for Ballard has increased by 7.5%, indicating a positive revision trend [7]. Zacks Rating System Overview - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks which have averaged a +25% annual return since 1988 [6][8]. - The upgrade to Zacks Rank 2 places Ballard in the top 20% of Zacks-covered stocks, suggesting a strong potential for market-beating returns in the near term [9].

Core Insights - The analyst team has demonstrated a strong track record, achieving an annualized return of almost 40% over the past decade, with a long-only model portfolio return exceeding 23 times [1]. Group 1: Investment Focus - The company offers income-focused investment options for those preferring lower-risk firms with consistent dividend payouts [1]. - The analyst has expanded coverage to include the offshore drilling and supply industry, as well as the shipping industry, which encompasses tankers, containers, and dry bulk [2]. Group 2: Analyst Background - The analyst has a background in auditing with PricewaterhouseCoopers and has transitioned to day trading for nearly 20 years, successfully navigating significant market events such as the dotcom bubble and the subprime crisis [2].

Core Viewpoint - Ballard Power Systems Inc. is a significant player in the clean energy sector, focusing on fuel cell products for transportation and stationary power generation, competing with companies like Plug Power and FuelCell Energy [1] Financial Performance - Roth Capital set a new price target of $3 for Ballard Power Systems, an increase from a previous target of $1.80, with the stock trading at $3.03 at the time of the announcement, reflecting a slight decrease of approximately -0.99% from the target [2][6] - The stock has shown significant volatility over the past year, with a high of $4.10 and a low of $1, indicating fluctuating investor sentiment [4][6] Market Activity - Ballard Power Systems has a market capitalization of approximately $907.84 million, suggesting a substantial presence in the market [5][6] - The trading volume for the day was 6,220,383 shares on the NASDAQ exchange, indicating active investor interest and response to recent developments [5][6] Earnings Call Insights - The Q3 2025 earnings call included key figures such as CEO Marty Neese and CFO Kate Igbalode, along with analysts from various firms, likely discussing financial performance and strategic initiatives, although specific details were not disclosed [3]