Ballard Power Systems Stock (NASDAQ: BLDP)

Ballard Power Systems Stock (NASDAQ:BLDP), Trade Ideas

Ballard Power Systems

Ballard Power Systems Inc is a world leader in proton-exchange membrane fuel cells, power system development, and commercialization. The company's principal business is the design, development, manufacture, sale, and service of PEM fuel cell products for a variety of applications, focusing on power product markets of heavy-duty motive (bus, truck, rail, and marine applications), material handling, and stationary power generation. Sales are concentrated in the US, Europe, and China.

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Ballard Power Systems secures purchase orders for hydrogen fuel cell engines from Wrightbus, amid broader market acceptance of fuel cell buses in Europe.

What&#39;s Going On With Ballard Power Systems Stock Tuesday?

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U.S. stocks were lower, with the Dow Jones falling around 250 points on Monday.

Micron, Iris Energy, Trip.com Group And Other Big Stocks Moving Higher On Monday

BLDP shares up on largest order in company history for 1,000 fuel cell engines in European transit bus market. Ballard achieved $54 million in investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C), funded by the Inflation Reduction Act (IRA). 

Why Ballard Power Systems Shares Are Surging Today

Ballard Power Systems, Inc. - Common Shares

Ballard Power Systems Inc

Ballard Power Systems, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) shares are&nbsp;<a target="_blank" href="https://www.benzinga.com/movers" rel="noreferrer noopener">trading lower on Tuesday.</a>
Ballard revealed several purchase orders for 70 FCmove-HD hydrogen fuel cell engines from Wrightbus, a U.K.-based bus manufacturer, for hydrogen-powered<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38268628/ballard-announces-orders-for-70-hydrogen-fuel-cell-engines-for-delivery-to-wrightbus-in-2024" rel="noreferrer noopener">&nbsp;buses in the U.K. and Europe</a>.
&#8220;We are pleased to strengthen our relationship with Wrightbus and support their deployment of an increasing volume of hydrogen-powered transit buses across the UK and Europe,&#8221; said Oben Uluc, Vice President, Sales &amp; Marketing, EMEA.&nbsp;
Ballard expects delivery of the fuel cell engines to occur in 2024, and the buses to enter into service in 2025.&nbsp;
The hydrogen fuel cell engines will power single- and double-decker buses in the U.K. and Germany.
&#8220;We are seeing broader market acceptance of fuel cell buses by European transit operators seeking to decarbonize their operations with a technology approach that enables long range, fast refueling, and scalable refueling infrastructure,&#8221; Uluc added.&nbsp;
According to&nbsp;<a target="_blank" href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" rel="noreferrer noopener">Benzinga Pro</a>, BLDP stock has lost over 45% in the past year. Investors can gain exposure to the stock via&nbsp;WisdomTree Trust WisdomTree Battery Value Chain And Innovation Fund&nbsp;(BATS:<a class="ticker" href="https://www.benzinga.com/stock/WBAT#BATS">WBAT</a>).
Earlier this month, the company disclosed winning&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38020465/ballard-announces-largest-order-in-company-history-1-000-engines-to-power-solaris-buses-across-eur" rel="noreferrer noopener">the largest order of fuel cell engines in its history</a>.
Notably, the company inked a Long Term Supply Agreement (LTSA) with its customer&nbsp;Solaris Bus &amp; Coach sp. z o.o.&nbsp;for supplying 1,000 hydrogen fuel cell engines through 2027 for the European transit bus market.
The LTSA consolidates existing orders for around 300 fuel cell engines, with a new supply commitment for an incremental around 700 fuel cell engines and related after-market extended warranty services.&nbsp;
Price Action: BLDP shares are trading lower by 1.61% to $2.74 on the last check Tuesday.

What's Going On With Ballard Power Systems Stock Tuesday?

Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#TSX">BLDP</a>) today announced multiple purchase orders totaling 70 FCmove&#xAE;-HD hydrogen fuel cell engines from its customer Wrightbus (<a href="https://wrightbus.com/">https://wrightbus.com/</a>), a UK-based bus manufacturer deploying hydrogen-powered buses in the UK and Europe. Ballard expects delivery of the fuel cell engines to occur in 2024, and the buses to enter into service in 2025. The hydrogen fuel cell engines will power single- and double-decker buses in the UK and Germany.
"We are pleased to strengthen our relationship with Wrightbus and support their deployment of an increasing volume of hydrogen-powered transit buses across the UK and Europe," said Oben Uluc, Vice President, Sales &amp; Marketing, EMEA. "We are seeing broader market acceptance of fuel cell buses by European transit operators seeking to decarbonize their operations with a technology approach that enables long range, fast refueling, and scalable refueling infrastructure."&nbsp;

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TSX:BLDP

Ballard Announces Orders For 70 Hydrogen Fuel Cell Engines For Delivery To Wrightbus In 2024; Expects Delivery Of The Fuel Cell Engines To Occur In 2024, And The Buses To Enter Into Service In 2025, No Financial Terms Disclosed

U.S. stocks were lower, with the Dow Jones falling around 250 points on Monday.
Shares of Micron Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mu#NASDAQ">MU</a>) rose sharply during Monday&rsquo;s session after B of A Securities maintained a Buy rating on the stock and raised its <a href="https://www.benzinga.com/quote/MU/analyst-ratings">price target from $120 to $144</a>.
Micron Technology shares climbed 6.6% to $125.69 on Monday.
Here are some other big stocks recording gains in today&rsquo;s session.
<ul>
<li>Doma Holdings Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/doma#NYSE">DOMA</a>) shares rose 34% to $6.08 after the company entered a merger transaction with TRG to go private at $6.29 per share in cash.</li>
<li>Mesoblast Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meso#NASDAQ">MESO</a>) gained 22.4% to $6.13 after the FDA earlier in the week informed the company that the available clinical data from its Phase 3 study MSB-GVHD001 appears sufficient to support submission of the proposed Biologics License Application for remestemcel-L.</li>
<li>SolarMax Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/smxt#NASDAQ">SMXT</a>) rose 22.1% to $11.18.</li>
<li>Ouster, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/oust#NYSE">OUST</a>) shares jumped 19.8% to $9.51.</li>
<li>Jiuzi Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jzxn#NASDAQ">JZXN</a>) gained 17.2% to $4.09.</li>
<li>Ballard Power Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bldp#NASDAQ">BLDP</a>) gained 16.4% to $3.2350 after the company announced the signing of a Long Term Supply Agreement with Solaris for the supply of 1,000 hydrogen fuel cell engines for the European transit bus market.</li>
<li>Iris Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iren#NASDAQ">IREN</a>) climbed 16% to $6.26. Cantor Fitzgerald analyst Josh Siegler reiterated Iris Energy with an Overweight and maintained a $10 price target.</li>
<li>Allego N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/allg#NASDAQ">ALLG</a>) gained 15.2% to $1.67.</li>
<li>GigaCloud Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gct#NASDAQ">GCT</a>) rose 13.3% to $30.26.</li>
<li>ZimVie Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zimv#NASDAQ">ZIMV</a>) gained 12.6% to $18.56. ZimVie announced closing of sale of spine business to an affiliate of H.I.G. Capital for $375 million in total consideration.</li>
<li>DouYu International Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/doyu#NASDAQ">DOYU</a>) gained 12% to $7.38.</li>
<li>COMPASS Pathways plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cmps#NASDAQ">CMPS</a>) gained 10.6% to $9.20. Morgan Stanley analyst Vikram Purohit initiated coverage on Compass Pathways with an Overweight rating and announced a price target of $30.</li>
<li>Coeur Mining, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cde#NYSE">CDE</a>) rose 9.6% to $4.1350 amid strength in precious metals stocks as gold rises on rate cut hopes.</li>
<li>Trip.com Group Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tcom#NASDAQ">TCOM</a>) climbed 7.6% to $47.24. Citigroup analyst Brian Gong maintained Trip.com Group with a Buy and raised the price target from $53 to $55.</li>
<li>NexGen Energy Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nxe#NYSE">NXE</a>) gained 7% to $8.31.</li>
<li>Western Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) rose 5.7% to $72.13.</li>
<li>The Chemours Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cc#NYSE">CC</a>) gained 6.4% to $27.94. Chemours recently said it identified four material weaknesses amid its internal control over financial reporting.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/04/38024169/insiders-buying-outlook-therapeutics-and-2-other-stocks"> Insiders Buying Outlook Therapeutics And 2 Other Stocks</a>

Ballard Power Systems Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) shares are trading higher after the company disclosed winning&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38020465/ballard-announces-largest-order-in-company-history-1-000-engines-to-power-solaris-buses-across-eur" rel="noreferrer noopener">the largest order of fuel cell engines in its history</a>.
Notably, the company inked a Long Term Supply Agreement (LTSA) with its customer&nbsp;Solaris Bus &amp; Coach sp. z o.o.&nbsp;for supplying 1,000 hydrogen fuel cell engines through 2027 for the European transit bus market.
The LTSA consolidates existing orders for around 300 fuel cell engines, with a new supply commitment for an incremental around 700 fuel cell engines and related after-market extended warranty services.&nbsp;
The company expects to deploy these engines in buses where Solaris buses powered by Ballard fuel cell engines operate in more than 22 European cities.
The company plans to start deliveries in 2024, which will run through the end of 2027.
Randy MacEwen, Ballard President and Chief Executive Officer, said, &#8220;This landmark agreement embarks on the next phase of Ballard and Solaris&#8217; partnership to accelerate fuel cell bus adoption in Europe, leveraging Ballard&#8217;s proven product performance, as the energy transition gains momentum.&#8221;&nbsp;&nbsp;
&#8220;We are on the road to achieving scaled deployment of fuel cell buses, which is a critical lever to facilitate economies of scale and cost down initiatives, driving improved economics and reduced emissions for fleet operators.&#8221;
Apart from this, Ballard achieved $54 million in investment tax credits from the U.S. Internal Revenue Service as part of the Qualifying Advanced Energy Project Tax Credit (48C),&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38021045/ballard-announces-54-million-of-additional-funding-support-bringing-total-u-s-federal-funding-to-9" rel="noreferrer noopener">funded by the Inflation Reduction Act (IRA).&nbsp;</a>
Last month, the company reported fourth-quarter sales growth of 132% year-on-year to $46.80 million, beating the analyst consensus&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37591786/why-ballard-power-systems-shares-are-falling-today" rel="noreferrer noopener">estimate of $34.07 million</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37630628/ballard-power-systems-analysts-slash-their-forecasts-after-q4-results" rel="noreferrer noopener">Ballard Power Systems Analysts Slash Their Forecasts After Q4 Results</a>
Price Action: BLDP shares are up 12% at $3.11 on the last check Monday.

WIIM

Ballard shares are trading higher after the company announced the signing of a Long Term Supply Agreement with Solaris for the supply of 1,000 hydrogen fuel cell engines for the European transit bus market.

Ballard Power Systems Awarded $54M Of Investment Tax Credits From IRS As Part Of The Qualifying Advanced Energy Project Tax Credit; Co. Plans To Use The Tax Credits To Support The Build-Out Of A New Fuel Cell Gigafactory In Rockwall, Texas

Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#TSX">BLDP</a>) today announced the signing of a Long Term Supply Agreement ("LTSA") with its customer Solaris Bus&amp; Coach sp. z o.o. ("Solaris"; <a href="http://www.solarisbus.com/">www.solarisbus.com</a>), a leading European bus manufacturer, for the supply of 1,000 hydrogen fuel cell engines through 2027 for the European transit bus market.
The LTSA consolidates existing orders for approximately 300 fuel cell engines, while adding after-market and extended warranty services to such existing orders, with a new supply commitment for an incremental approximately 700 fuel cell engines and related after-market extended warranty services. This consolidated order represents the largest order of fuel cell engines in Ballard's history and marks a significant step forward in the relationship with&nbsp;Solaris. The 1,000 units will be made up of approximately 80% FCmove&#xAE;-HD 70 kW and 20% FCmove&#xAE;-HD+ 100 kW engines to address both the 12-metre and 18-metre bus markets, with delivery starting in 2024 and running through the end of 2027.
These engines are expected to be deployed in buses across Europe where Solaris buses powered by Ballard fuel cell engines currently operate in over 22 European cities. Supported by policy tailwinds and regulations to decarbonize public urban transport fleets, the transition to zero emission city buses has accelerated in recent years as the value proposition of hydrogen fuel cells are increasingly understood– zero emissions, quick refueling, and long range, without impact to performance or duty cycle.
"This landmark agreement embarks on the next phase of Ballard and Solaris' partnership to accelerate fuel cell bus adoption in Europe, leveraging Ballard's proven product performance, as the energy transition gains momentum," said Randy MacEwen, Ballard President and Chief Executive Officer. "This LTSA is a testament to our collaborative efforts with Solaris spanning over a decade in bringing safe, competitive, durable, zero emission solutions to transit operators across Europe. We are on the road to achieving scaled deployment of fuel cell buses, which is a critical lever to facilitate economies of scale and cost down initiatives, driving improved economics and reduced emissions for fleet operators."
"We are excited to continue our work with Ballard and further our progress in the rapidly growing European hydrogen fuel cell bus market as fuel cell vehicles become an increasingly significant share of our production mix. Solaris has become a leader in deploying hydrogen technology in public transport and an experienced partner for European operators. To date, we have delivered nearly 200 hydrogen-powered buses and another over 500 units are in our orderbook for next two years," said Javier Iriarte, Solaris Chief Executive Officer.

Ballard Announces Largest Order In Company History, 1,000 Engines To Power Solaris Buses Across Europe; No Financial Terms Disclosed

<a href="https://www.energy.gov/eere/fuelcells/bipartisan-infrastructure-law-clean-hydrogen-electrolysis-manufacturing-and-0">https://www.energy.gov/eere/fuelcells/bipartisan-infrastructure-law-clean-hydrogen-electrolysis-manufacturing-and-0</a>
<h2>Funding Selections for Clean Hydrogen Electrolysis, Manufacturing, and Recycling Activities under the Bipartisan Infrastructure Law</h2>
<h2>Description</h2>
On March 13, 2024, the U.S. Department of Energy (DOE) announced $750 million in funding for 52 projects across 24 states to dramatically reduce the cost of clean hydrogen and reinforce American leadership in the growing hydrogen industry. These projects will advance electrolysis technologies and improve manufacturing and recycling capabilities for clean hydrogen systems and components.
This announcement represents the first phase of implementation of two provisions of the Bipartisan Infrastructure Law, which authorizes $1 billion for research, development, demonstration, and deployment (RDD&amp;D) activities to reduce the cost of clean hydrogen produced via electrolysis and $500 million for research, development, and demonstration (RD&amp;D) of improved processes and technologies for manufacturing and recycling clean hydrogen systems and materials. These projects will directly produce more than 1,500 new jobs, along with thousands of additional jobs indirectly generated through regional economic activity. Additionally, these projects will provide support to 32 disadvantaged communities.
Together with the Regional Clean Hydrogen Hubs (<a href="https://www.energy.gov/oced/regional-clean-hydrogen-hubs">H2Hubs</a>), tax incentives in the President's historic Inflation Reduction Act, and ongoing research, development, and demonstration in the DOE <a href="https://www.hydrogen.energy.gov/">Hydrogen Program</a>, these investments will help DOE achieve its ambitious <a href="https://www.energy.gov/eere/fuelcells/hydrogen-shot">Hydrogen Shot</a> goal of reducing the cost of producing clean hydrogen to $1 per kilogram. These projects will also support the long-term viability of the H2Hubs and other emerging commercial-scale deployments by helping to solve the underlying technical barriers to cost reduction that can't be overcome by scale alone.

Ballard Power Systems Has Been Awarded $40M In Department Of Energy Funding For Hydrogen Industry Projects

Raymond James analyst Michael Glen maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Market Perform and lowers the price target from $4.5 to $4.

Price Target

Analyst Ratings

Raymond James Maintains Market Perform on Ballard Power Systems, Lowers Price Target to $4

Piper Sandler analyst Kashy Harrison maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Underweight and lowers the price target from $3 to $2.3.

Piper Sandler Maintains Underweight on Ballard Power Systems, Lowers Price Target to $2.3

Ballard Power Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bldp#NASDAQ">BLDP</a>) reported mixed results for the <a href="https://www.benzinga.com/news/earnings/24/03/37591786/why-ballard-power-systems-shares-are-falling-today">fourth quarter on Monday</a>.
The company reported fourth-quarter sales growth of 132% year-on-year to $46.80 million, beating the analyst consensus estimate of $34.07 million. The company posted a loss of 16 cents per share, compared to the consensus estimate of 13 cents per share, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Ballard held $751.1 million in cash and equivalents as of December 31, 2023.
&quot;Our transition to a commercial products company is gaining momentum, with growing market acceptance of our fuel cell engines across our verticals,&quot; said Randy MacEwen, President and CEO. &quot;We shipped a record number of fuel cell engines in the quarter, allowing us to close out the year with Q4 revenue of $46.8 million, up 132% year-over-year. We also booked $64.7 million of new orders in Q4, resulting in a product-based Order Backlog now 15% higher than the same period last year.&quot;
Ballard sees FY24 operating expenses of $145 million &ndash; $165 million. It expects FY24 capital expenditure of $50 million &ndash; $70 million.
Ballard Power shares fell 5.2% to trade at $2.8450 on Tuesday.
These analysts made changes to their price targets on Ballard Power Systems after the company reported quarterly results.
<ul>
<li>Wells Fargo cut the price target on Ballard Power Systems from $4 to $3.5. Wells Fargo analyst Praneeth Satish maintained an Underweight rating.</li>
<li>HSBC slashed the price target on Ballard Power Systems from $4.5 to $4.1. HSBC analyst Samantha Hoh maintained a Buy rating.</li>
<li>Susquehanna cut the price target on Ballard Power Systems from $4 to $3. Susquehanna analyst Biju Perincheril maintained a Neutral rating.</li>
<li>BMO Capital slashed the price target on Ballard Power Systems from $3.25 to $3. BMO Capital analyst Ameet Thakkar maintained an Underperform rating.</li>
<li>TD Securities cut the price target on Ballard Power Systems from $3.75 to $3. TD Securities analyst Aaron Macneil maintained a Hold rating.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/markets/cryptocurrency/24/03/37620462/bitcoin-surpasses-72-000-following-inflation-data-toncoin-emerges-as-top-gainer"> Bitcoin Surpasses $72,000 Following Inflation Data; Toncoin Emerges As Top Gainer</a>

Earnings

Ballard Power Systems Analysts Slash Their Forecasts After Q4 Results

TD Securities analyst Aaron Macneil maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Hold and lowers the price target from $3.75 to $3.

TD Securities Maintains Hold on Ballard Power Systems, Lowers Price Target to $3

BMO Capital analyst Ameet Thakkar maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Underperform and lowers the price target from $3.25 to $3.

BMO Capital Maintains Underperform on Ballard Power Systems, Lowers Price Target to $3

Susquehanna analyst Biju Perincheril maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Neutral and lowers the price target from $4 to $3.

Susquehanna Maintains Neutral on Ballard Power Systems, Lowers Price Target to $3

HSBC analyst Samantha Hoh maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Buy and lowers the price target from $4.5 to $4.1.

HSBC Maintains Buy on Ballard Power Systems, Lowers Price Target to $4.1

Wells Fargo analyst Praneeth Satish maintains Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) with a Underweight and lowers the price target from $4 to $3.5.

Wells Fargo Maintains Underweight on Ballard Power Systems, Lowers Price Target to $3.5

Ballard Power Systems shares are trading lower after the company reported mixed Q4 results.

Ballard Power Systems Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) shares are trading lower after it reported the fourth-quarter FY23 results.
The company reported fourth-quarter sales growth of 132% year-on-year to $46.80 million, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37583752/ballard-reports-q4-2023-results" rel="noreferrer noopener">analyst consensus estimate of $34.07 million</a>.
Heavy-Duty Mobility revenue increased 219% to $29 million and Stationary grew 105% to $12.8 million.
Total operating expenses for the quarter totaled $35 million, a 16% increase Y/Y.
Adjusted EBITDA3 was $(44.1) million, compared to $(40.1) million a year ago, primarily due to a higher gross margin loss driven by inventory impairment charges.
Order backlog at the end of 2023 was $130.5 million, down 3% compared to the end of third quarter.&nbsp;
Cash used in operating activities totaled $(18.3) million compared to $(21.2) million last year.
EPS of $(0.16) missed the consensus estimate of $(0.13).
Ballard held $751.1 million in cash and equivalents as of December 31, 2023.
Outlook: Ballard sees FY24 operating expenses of $145 million &#8211; $165 million. It expects FY24 capital expenditure of $50 million &#8211; $70 million.
Price Action: BLDP shares are trading lower by 7.59% at $3.05 on the last check Monday.

Why Ballard Power Systems Shares Are Falling Today

Consistent with its past practice, and in view of the early stage of hydrogen fuel cell market development, specific revenue or net income (loss)&nbsp;guidance&nbsp;for 2024 is not provided.

Guidance

Ballard Expects Revenue In 2024 To Be Back-half Weighted, With Roughly 30% In H1 And 70% In H2, Similar To 2023

Ballard Power Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDP#NASDAQ">BLDP</a>) reported quarterly losses of $(0.16) per share which missed the analyst consensus estimate of $(0.13) by 23.08 percent. The company reported quarterly sales of $46.80 million which beat the analyst consensus estimate of $34.07 million by 37.36 percent.&nbsp;

Ballard Power Systems Q4 EPS $(0.16) Misses $(0.13) Estimate, Sales $46.80M Beat $34.07M Estimate

Analysts have been eager to weigh in on the Industrial Goods sector with new ratings on Ballard Power Systems (BLDP – Research Report) and Agco (AG...

Analysts Offer Insights on Industrial Goods Companies: Ballard Power Systems (BLDP) and Agco (AGCO)

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Fuel cell products developer and manufacturer Ballard Power Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/">BLDP</a>) needs a win. Over the past year, BLDP stock has suffered a loss of 43%. On Tuesday, it tanked more than 4%. However, a recent company announcement coupled with rising interest in the underlying industry may bode well. It&rsquo;s possible, then, that the dynamic could provide a swing-trade opportunity for bullish speculators.



Recently, Ballard made news when it <a href="https://www.tipranks.com/news/ballard-stock-nasdaqbldp-spikes-on-solaris-deal">inked a deal</a> with Solaris Bus &amp; Coach, a leading European bus manufacturer. According to the terms of the long-term agreement, Ballard will supply 1,000 hydrogen fuel cell engines to Solaris for the European transit bus market. Per TipRanks, the deal represents the largest in Ballard&rsquo;s history. Upon the announcement, BLDP stock skyrocketed.



What&rsquo;s also intriguing is the projection for the core market. From Fortune Business Insights, the global fuel cell market size <a href="https://www.fortunebusinessinsights.com/industry-reports/fuel-cell-market-100733">reached a valuation of $4.58 billion in 2021</a>. Experts believe that the sector could hit $36.41 billion by 2029. If so, that would imply a compound annual growth rate of 29.7% from 2022.



Given the push for clean energy solutions, BLDP stock at the very least enjoys a compelling narrative.



<h2>Resistance Barriers and Short Squeezes</h2>



As a broad overview, it&rsquo;s not entirely unreasonable for investors to consider a longer-term approach to BLDP stock. However, the main issue is the entrenched resistance among the bears. There&rsquo;s a reason why Wall Street analysts rate shares a <a href="https://www.tipranks.com/stocks/bldp/forecast">consensus hold</a>. At the same time, the expected per-share price spectrum is vast: We&rsquo;re talking a low of $2.30 to a blistering high of $15.



Because of the steep variance, a shorter-term approach may be best. <a href="https://www.barchart.com/stocks/quotes/BLDP/cheat-sheet">Barchart&rsquo;s Trader&rsquo;s Cheat Sheet</a> reveals key resistance levels based on its calculations for standard deviation and what it terms pivot points. From Tuesday&rsquo;s closing price of $3.13, long-side traders face resistance levels from $3.15 to $3.38.



That&rsquo;s going to make for an uphill battle and we&rsquo;re already seeing that pan out. During Tuesday&rsquo;s afterhours session, the bears succeeded in driving down the price to $3.09 or 1.28% below the close hours earlier. Still, it&rsquo;s also possible that should BLDP stock break through the trenches, it could fly dramatically higher.



<a href="https://investorplace.com/wp-content/uploads/2024/04/bldp-stock-trade-of-the-day.jpg"><img width="1024" height="617" src="https://investorplace.com/wp-content/uploads/2024/04/bldp-stock-trade-of-the-day-1024x617.jpg" alt=""></a>Chart by Josh Enomoto, InvestorPlace.comI say that because of the <a href="https://fintel.io/ss/us/bldp">short interest</a>. While we&rsquo;re not talking an extreme amount of negativity, the metrics are modestly elevated: 9.19% of the float is held short while the short interest ratio comes in at 4.51 days to cover.



Due to the volatility of BLDP stock &ndash; it features a <a href="https://www.barchart.com/stocks/quotes/BLDP">60-month beta of 1.66</a> &ndash; bearish traders likely know that if shares break higher, they&rsquo;ll break in a big way. Therefore, they may look to cover earlier before circumstances get out of hand. If so, that may be lucrative for bullish gamblers.



<h2>Trade of the Day: Buy BLDP Stock Call Options</h2>



If you want to participate in this high-risk, high-reward idea, then the in-the-money 2024 Aug 16 $3 call may be your ideal play. On the April 2 session, this contract closed at a premium of 55 cents. The idea here is to take advantage of the significantly cheapened price from Tuesday&rsquo;s volatility. That should give us extra margin to expand on the call option&rsquo;s intrinsic value while hopefully also benefiting from time value.



Another factor that drove the spotlight to this call option is its bid-ask spread. Now, given that we&rsquo;re dealing with a small-capitalization company that&rsquo;s lesser known than some of its peers, the volume for BLDP stock derivatives is thin. Therefore, the spreads will be sizable, a risk factor that you must appreciate before diving in.



Still, the $3 August call comes in at 25.9%, which while steep is far better than many other calls across the strike price and expiration date spectrum. Looking ahead, a return to near the $4 level is the ultimate target. Beyond that, the bears may be tempted to chomp down.



On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare. Tweet him at @EnomotoMedia.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/trade-of-the-day-take-a-bet-on-ballard-power-systems-bldp-stock/">Trade of the Day: Take a Bet on Ballard Power Systems (BLDP) Stock</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Trade of the Day: Take a Bet on Ballard Power Systems (BLDP) Stock

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Vicinity Motor&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/vev-stock-quote/">VEV</a>) stock is falling on Wednesday following the release of the transit bus manufacturing company&rsquo;s <a href="https://www.nasdaq.com/press-release/vicinity-motor-corp.-reports-fourth-quarter-and-full-year-2023-financial-results-2024">Q4 2023 earnings report</a>.



The bad news for VEV stockholders starts with the company&rsquo;s <a href="https://investorplace.com/earning-results/2024/04/vev-stock-earnings-vicinity-motor-for-q4-of-2023/">earnings per share of -20 cents</a>. This is worse than the -6 cents per share that Wall Street was expecting. It&rsquo;s also worse than the -8 cents per share from the same period of the year prior.



Also not helping matters is the company&rsquo;s revenue of $5.1 million. Yet again, this failed to reach analysts&rsquo; revenue estimate of $12.62 million. That&rsquo;s despite revenue jumping from the $2 million reported in the fourth quarter of 2022.



Vicinity Motor founder and CEO William Trainer said the following in the earnings report.




&ldquo;The increasing adoption of commercial EVs is being driven by government incentives, corporate sustainability goals and declining cost of ownership &ndash; with our EV lineup and growing dealer network capitalizing on this transition to be the commercial EV supplier of choice for many.&rdquo;




<h2>VEV Stock Movement on Wednesday</h2>



The lackluster earnings report from Vicinity Motor is weighing on the company&rsquo;s shares this morning. That has VEV stock down 26.8% as of this writing. This erases the 11.9% year-to-date gains it accumulated when markets closed yesterday.



Investors on the lookout for more of the most recent stock market stories are going to want to stick around!



We have all of the hottest stock market news that traders need to know about on Wednesday! That includes everything happening with shares of View&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/view-stock-quote/">VIEW</a>) stock, Ballard Power Systems&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/">BLDP</a>) stock and Aesthetic Medical&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/aih-stock-quote/">AIH</a>) stock this morning. All of that news is available at the following links!



<h2>More Stock Market News for Wednesday</h2>



<ul><li><a href="https://investorplace.com/2024/04/why-is-view-view-stock-down-62-today/">Why Is View (VIEW) Stock Down 62% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/trade-of-the-day-take-a-bet-on-ballard-power-systems-bldp-stock/">Trade of the Day: Take a Bet on Ballard Power Systems (BLDP) Stock</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-aesthetic-medical-aih-stock-up-44-today/">Why Is Aesthetic Medical (AIH) Stock Up 44% Today?</a></li>
</ul>On Penny Stocks and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-vicinity-motor-vev-stock-down-27-today/">Why Is Vicinity Motor (VEV) Stock Down 27% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is Vicinity Motor (VEV) Stock Down 27% Today?

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
View&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/view-stock-quote/">VIEW</a>) stock is falling hard on Wednesday after the company <a href="https://www.nasdaq.com/press-release/view-inc.-reaches-agreement-with-cantor-fitzgerald-and-rxr-to-become-a-private">filed for Chapter 11 bankruptcy protection</a> as a way to go private.



View&nbsp;filed for Chapter 11 in order to enact a restructuring of the company. This will also see it be financed by Cantor Fitzgerald, L.P. and RXR. As a result, the company will come out of bankruptcy as a private business.



View&nbsp;will continue normal operations throughout the bankruptcy process. The company also expects to exit bankruptcy within 45 days of its Tuesday filing. It believes this reorganization will improve its balance sheet and better position it for the future.



With this deal with Cantor Fitzgerald, L.P. also comes changes to its leadership team. This will see it become a private company with a reorganized Board of Directors. Cantor Fitzgerald chairman and CEO Howard Lutnick and RXR chairman and CEO Scott Rechler will also support the company.



View CEO Rao Mulpuri said the following about the news.




&ldquo;Today&rsquo;s announcement marks the culmination of a thorough strategic review of our business operations to help ensure we have the proper capital structure going forward. With the support of&nbsp;Cantor Fitzgerald&nbsp;and RXR, we intend to maximize our business potential with increased financial stability and be better positioned to increase our presence across the real estate ecosystem.&rdquo;




<h2>What This Means for VIEW Stock</h2>



Going private means that shares of VIEW stock won&rsquo;t trade on the public market anymore. It&rsquo;s also one of the reasons for the fall of the company&rsquo;s shares today alongside the bankruptcy news.



This has VIEW stock seeing strong trading today. As of this writing, more than 136,000 shares have changed hands. That&rsquo;s closing in on its daily average trading volume of about 177,000 shares.



VIEW stock is down 61.8% as of Wednesday morning.



There are more stock market stories worth reading below!



We offer all of the hottest stock market coverage traders need for Wednesday! A few examples include trade of the day Ballard Power Systems&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/">BLDP</a>) and why shares of Aesthetic Medical&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/aih-stock-quote/">AIH</a>) and LAMF Global Ventures&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lgvc-stock-quote/">LGVC</a>) stock are up this morning. All of that news is available at the following links!



<h2>More Wednesday Stock Market News</h2>



<ul><li><a href="https://investorplace.com/2024/04/trade-of-the-day-take-a-bet-on-ballard-power-systems-bldp-stock/">Trade of the Day: Take a Bet on Ballard Power Systems (BLDP) Stock</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-aesthetic-medical-aih-stock-up-44-today/">Why Is Aesthetic Medical (AIH) Stock Up 44% Today?</a></li>



<li><a href="https://investorplace.com/2024/04/why-is-lamf-global-ventures-lgvc-stock-up-100-today/">Why Is LAMF Global Ventures (LGVC) Stock Up 100% Today?</a></li>
</ul>On <a href="https://investorplace.com/stock-types/penny-stocks/">Penny Stocks</a> and Low-Volume Stocks:&#8239;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&#8239;InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&#8239;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/" target="_blank">How to Profit Without Getting Scammed</a>



On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
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	The post <a href="https://investorplace.com/2024/04/why-is-view-view-stock-down-62-today/">Why Is View (VIEW) Stock Down 62% Today?</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Why Is View (VIEW) Stock Down 62% Today?

Ballard Power (TSE:BLDP) has released an update. Ballard Power Systems is set to discuss its Q1 2024 financial results in a conference call slated ...

Ballard Power to Review Q1 2024 Financials

Ballard Power (TSE:BLDP) has released an update. Ballard Power Systems has scheduled a conference call to discuss its first quarter financial resul...

Ballard Power to Discuss Q1 2024 Financials

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
<a href="https://investorplace.com/stock-types/penny-stocks/">Penny stocks</a>, known for their riskiness, experience rapid surges and falls due to low volume, affordable pricing and operational factors. However, for informed investors, there are penny stocks to buy that offer a chance to secure substantial gains at low costs.



Recent developments suggest a high likelihood of consecutive rate cuts in 2024. This is a scenario where penny stocks typically thrive. However, expectations should be tempered in comparison to the cheap debt era. With <a href="https://www.statista.com/chart/29055/fomc-projections-for-the-federal-funds-rate/">anticipated rates</a> around the low 5% range for the remainder of 2024 before dropping to the high 4s next year, compared to today&rsquo;s rate of 5.5%, this unique position could catalyze a surge in penny stocks.



Years of austerity and rate hikes, they weeded out the weakest penny stocks. The &ldquo;worst in class&rdquo; companies disappeared via bankruptcy, privatization, and acquisition. The survivors are now stronger, more efficient and competitive. A penny stock that successfully weathered the past few years is primed to grow as rates dip. But don&rsquo;t want until then. These penny stocks to buy are in a position to transcend micro-cap status and achieve success.



<h2>Ballard Power Systems (BLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/bldp-stock-1-300x169.jpg" alt="Ballard Power Systems Inc logo visible on display screen"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>A fuel-cell manufacturer, penny stock Ballard Power Systems (NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/">BLDP</a>), targets a unique market &mdash; heavy automotives like buses and trains and portable power solutions on construction sites. The fickleness of retail consumer demand can cripple companies when market and business cycles swing out of favor, as observed with Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) in recent months. However, Ballard secures a foothold in reliable industries by first targeting enterprise-level clients and anchoring future strategic pivots.



Late last year, Ballard <a href="https://seekingalpha.com/news/4019393-ballard-wins-orders-for-177-hydrogen-fuel-cell-engines-for-buses-in-europe">secured an order</a> for over 177 hydrogen fuel cell engines for buses across Europe. This contract, marking the continent&rsquo;s largest deployment of hydrogen fuel-powered buses, signifies a pivotal moment for the energy penny stock leader.



For some, Ballard&rsquo;s <a href="https://www.investing.com/news/stock-market-news/ballard-power-systems-grapples-with-escalating-cash-burn-declining-revenue-93CH-3225148">rapid cash burn</a> raises concerns. However, the company&rsquo;s <a href="https://www.ballard.com/docs/default-source/financial-reports/2023/mda-q4-23-final.pdf?sfvrsn=4807d980_4">recent earnings report</a> highlighted efforts to mitigate this burn. Moreover, the absence of debt on the company&rsquo;s balance sheet prevents the overburdening of the company with unsustainable leverage in the current climate of high interest rates.



<h2>Desktop Metal (DM)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/pennies-cheap-1600-300x169.png" alt="Pennies in a jar on top of a background of pennies. Pennies. Cheap stocks."><div>Source: John Brueske / Shutterstock</div></div>The climbing rates posed a significant challenge for the 3D-printing penny stock company Desktop Metal (NYSE:<a href="https://investorplace.com/stock-quotes/dm-stock-quote/">DM</a>), causing its share price to plummet from a high of $30 in 2021 to under $1 today, categorizing it as a literal penny stock. However, Desktop Metal emerged stronger from this test of its resilience, positioning itself for a potential surge in the next penny stock bull market.



Post-ZIRP, executives, board members and shareholders assimilated tough lessons that contradicted the previously comfortable &ldquo;growth at all costs&rdquo; mindset prevalent during periods of cheap debt. Penny stocks like Desktop Metal, successfully navigating these changes, emerged financially stronger and more adept at navigating future economic downturns. They&rsquo;re also primed to capitalize on favorable market shifts.



Desktop Metal showcased improved financials in its <a href="https://www.businesswire.com/news/home/20240315314376/en/Desktop-Metal-Announces-Fourth-Quarter-and-Full-Year-2023-Financial-Results/">fourth-quarter filing</a>, notably cutting its net loss by more than half from $740.3 million in 2022 to $323.4 million by the end of 2023. Additionally, the company reduced its burn rate by 25% and significantly increased its cash reserves. Even more encouraging is the company&rsquo;s projection of reaching breakeven EBITDA in the second half of 2024, suggesting that there is still an opportunity to invest before Desktop Metal begins generating profits.



<h2>Taboola (TBLA)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/11/shutterstock_1837963990-300x169.jpg" alt="TBLA stock: Taboola company website with logo close up"><div>Source: Postmodern Studio / Shutterstock</div></div>The penny stock Taboola (NASDAQ:<a href="https://investorplace.com/stock-quotes/tbla-stock-quote/">TBLA</a>) is trading fairly flat thus far in 2024, rising just 2.14% since January 1st. Still, its 1-year 75% increase points to bullish momentum remaining, meaning investors can accumulate shares now before a larger leg up.



Even if Taboola is new to you, you&rsquo;ve likely seen its product on popular online platforms such as CNBC, Business Insider and Apollo Asset Management&rsquo;s (NYSE:<a href="https://investorplace.com/stock-quotes/apo-stock-quote/">APO</a>) Yahoo! platform, among others. Taboola enables websites to monetize their traffic by displaying diverse advertisements while offering businesses a distinctive advertising platform to boost their visibility. Boasting over <a href="https://www.yahooinc.com/press/yahoo-and-taboola-enter-30-year-commercial-agreement-developing-a-leading-offering-for-advertisers-publishers-and-merchants-on-the-open-web-partnership-to-generate-approximately-1-billion-in-annual-revenue">15,000 advertisers</a> and nearly 600 million daily active users, Taboola plays a pivotal role in shaping the online advertising landscape.



Recently, Taboola revealed an exclusive <a href="https://www.taboola.com/press-release/advancelocal">multi-year expansion partnership</a> with Advance Local to enhance user engagement and seize new marketing opportunities. Scott Lawrence, Senior Director of Programmatic Strategy at Advance Local, praised the partnership in recent discussions, saying, &ldquo;Over the past eight years, Taboola has proven to be an outstanding partner, contributing to our engagement with readers through high-quality content and supporting local media companies with innovative business solutions.&rdquo; Digital marketing is a perma-growth industry; this penny stock is one of the few ready to capitalize on its many opportunities.



On Penny Stocks and Low-Volume Stocks: With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that InvestorPlace.com&rsquo;s writers disclose this fact and warn readers of the risks.



Read More: <a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">Penny Stocks &mdash; How to Profit Without Getting Scammed</a>



On the date of publication, Jeremy Flint held no positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Jeremy Flint, an MBA graduate and skilled finance writer, excels in content strategy for wealth managers and investment funds. Passionate about simplifying complex market concepts, he focuses on fixed-income investing, alternative investments, economic analysis, and the oil, gas, and utilities sectors. Jeremy&rsquo;s work can also be found at <a href="https://jeremyflint.work/">www.jeremyflint.work</a>.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/penny-stock-powerhouses-3-tiny-titans-ready-to-explode/">Penny Stock Powerhouses: 3 Tiny Titans Ready to Explode</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Penny Stock Powerhouses: 3 Tiny Titans Ready to Explode

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Investors may want to pay close attention to <a href="https://investorplace.com/industries/energy/renewable-energy/hydrogen/">hydrogen stocks</a>.



All as the U.S. fights to make hydrogen happen. For one, according to&nbsp;Energy Secretary Jennifer Granholm,&nbsp;<a href="https://www.eenews.net/articles/ceraweek-biden-admin-mounts-defense-of-clean-hydrogen/">as noted by E&amp;E News</a>, the &ldquo;Treasury Department would come out with a &lsquo;final rule shortly&rsquo; referring to guidance for companies to obtain new hydrogen tax credits under the Inflation Reduction Act known as 45V.&rdquo;



Companies like&nbsp;Exxon Mobil&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/xom-stock-quote/">XOM</a>) have already said they&nbsp;<a href="https://www.worldoil.com/news/2024/3/20/exxonmobil-ceo-won-t-proceed-with-hydrogen-project-without-biden-s-ira-tax-credits/#:~:text=(Bloomberg)%20%E2%80%93%20Exxon%20Mobil%20Corp,Woods%20said%20during%20an%20interview.">won&rsquo;t proceed</a>&nbsp;with low-carbon hydrogen projects if the Biden Administration withholds tax incentives for natural gas-fed facilities, said CEO Darren Woods, as noted by WorldOil.com.



Two, the Department of Energy recently announced&nbsp;<a href="https://www.energy.gov/articles/biden-harris-administration-announces-750-million-support-americas-growing-hydrogen#:~:text=WASHINGTON%2C%20D.C.%20%E2%80%94%20As%20part%20of,the%20growing%20clean%20hydrogen%20industry.">$750 million in funding</a>&nbsp;for 52 projects across 24 states to help get hydrogen going. And three,&nbsp;<a href="https://www.natlawreview.com/article/department-energy-establishes-clean-hydrogen-roadmap">as noted by NatLawReview.com</a>, clean hydrogen is key to achieving the U.S. goal of a 100% clean electrical grid by 2035, and net-zero emissions by the time 2050 rolls around.



Should things progress well, hydrogen stocks should explode higher. In fact, here are seven top hydrogen stocks you may want to consider.



<h2>Air Products and Chemicals (APD)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/apd_air_products1600-300x169.png" alt="Air Products (APD) logo on the Arts Quest building, Air Products is a sponsor of Air Products Town Square at Arts Quest in Bethlehem, PA"><div>Source: Andy Borysowski / Shutterstock.com</div></div>One of the top hydrogen stocks to buy and hold is&nbsp;Air Products and Chemicals&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/apd-stock-quote/">APD</a>).



For one, with a yield of 3%, it recently announced a dividend of $1.77, which is payable on May 13 to shareholders as of April 1. Two,&nbsp;Air Products Chairman and Chief Executive Officer&nbsp;Seifi Ghasemi&nbsp;recently said the&nbsp;<a href="https://www.airproducts.com/company/news-center/2024/01/0125-air-products-increases-quarterly-dividend">company expects to return about $1.6 billion to shareholders</a>&nbsp;in 2024, extending its track record of more than 40 years of increasing the dividend.



Helping,&nbsp;<a href="https://www.moomoo.com/news/flash/17748031/wolfe-research-initiates-coverage-on-air-products-chemicals-with-outperform?level=1&amp;data_ticket=1712876770208478">analysts at Wolfe Research</a>&nbsp;just initiated coverage of APD with an outperform rating. Citi analysts also raised their price target on APD to $285 a share, with a buy rating.&nbsp;



Even&nbsp;<a href="https://ng.investing.com/news/stock-market-news/bofa-upgrades-air-products-says-share-price-has-upside-potential-93CH-1221487">Bank of America says APD is a buy</a>&nbsp;with a price target of $272. That upgrade, according to Investing.com, &ldquo;reflects a positive reassessment of the company&rsquo;s valuation in comparison to its peer, Linde, a reduced perception of risk in its speculative project backlog, and a stronger belief in the resilience of its base business.&rdquo;



<h2>Linde (LIN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/04/lin_linde_1600-300x169.png" alt="Logo of Linde AG (LIN) in Hanover, Germany - The Linde Group is a multinational chemical company"><div>Source: nitpicker / Shutterstock.com</div></div>Another one of the top hydrogen stocks to buy is&nbsp;Linde&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/lin-stock-quote/">LIN</a>), a global industrial gases company that yields 1.23%. Granted, it&rsquo;s a $453 stock, there&rsquo;s still plenty of upside remaining here.&nbsp;



Helping, analysts at&nbsp;<a href="https://www.marketscreener.com/quote/stock/LINDE-PLC-46923083/news/Mizuho-Securities-Raises-Linde-Price-Target-to-510-From-503-Maintains-Neutral-Rating-46288197/">Mizuho recently raised their price target</a>&nbsp;on LIN to $510 from $503. <a href="https://markets.businessinsider.com/news/stocks/linde-lin-new-buy-recommendation-for-this-basic-materials-giant-1033239351">BMO Capital also raised</a>&nbsp;its price target to $510.&nbsp;



The firm cited Linde&rsquo;s &ldquo;thriving business,&rdquo; and company leadership keen on delivering returns to shareholders and exploring growth opportunities. &ldquo;These factors, coupled with Linde&rsquo;s substantial free cash flow (<a href="https://investorplace.com/stock-quotes/fcf-stock-quote/">FCF</a>), are expected to support the company&rsquo;s trajectory of double-digit earnings per share (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/">EPS</a>) growth,&rdquo;&nbsp;<a href="https://www.investing.com/news/stock-market-news/linde-shares-target-raised-to-510-on-strong-fundamentals-93CH-3331082">said the firm, as noted by Investing.com</a>.



In its most recent quarter, the company posted earnings per share of $3.59, which beat by nine cents. Revenue of $8.3 billion &ndash; up 5.1% year over year &ndash; beat by $230 million. Moving forward, LIN expects to adjusted EPS to fall in a range of $3.58 to $3.68, which is below consensus of $3.72. For the full year, it expects to posted adjusted EPS of $15.25 to $15.65. The consensus estimate is $15.45, and represents growth of 8% to 11%.



<h2>Bloom Energy (BE)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/06/shutterstock_1473297014-5-300x169.jpg" alt="BE stock Bloom Energy logo on a building"><div>Source: Sundry Photography / Shutterstock</div></div>Since bottoming out at around $8.95, shares of&nbsp;Bloom Energy&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/be-stock-quote/">BE</a>) rallied to a recent high of $12.51. And while it has since backed off to about $11.38, it&rsquo;s getting positive attention.&nbsp;



Analysts at Evercore, for example, initiated an outperform rating on the BE stock, with a price target of $21 a share. &ldquo;Combined with wind, solar, nuclear, and other renewable resources, Bloom is positioned for longer-term growth in green hydrogen, a principal fuel for a low-carbon future,&rdquo; said the analysts,&nbsp;<a href="https://www.investing.com/news/company-news/bloom-energy-stock-started-at-outperform-at-evercore-on-longterm-growth-potential-93CH-3359263">as quoted by Investing.com</a>.



<a href="https://seekingalpha.com/news/4076786-bloom-energy-upgraded-at-truist-seeing-better-growth-and-customer-traction">Truist also just upgraded Bloom Energy</a>&nbsp;to a hold with a price target of $11 a share. The company was also just awarded up to $75 million in federal tax credits to expand fuel cell and electrolyzer production capacity at its Fremont, California manufacturing plant. Reportedly, that facility can produce more than 1 GW/year.&nbsp;



Even better, the company is working with&nbsp;Shell&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/shel-stock-quote/">SHEL</a>) to&nbsp;<a href="https://seekingalpha.com/news/4076545-bloom-energy-surges-on-hydrogen-electrolyzer-tech-deal-with-shell?hasComeFromMpArticle=false">study decarbonization solutions</a>&nbsp;using Bloom&rsquo;s hydrogen electrolyzer technology.



<h2>Ballard Power (BLDP)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/bldp-stock-1-300x169.jpg" alt="Ballard Power Systems Inc logo visible on display screen"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>Ballard Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/bldp-stock-quote/">BLDP</a>) has been interesting. Since bottoming out at around $2.70, the stock has since gapped to a recent high of $3.38. From here, if it can break above resistance at $3.38, it could potentially retest $3.80 near term.&nbsp;



Helping, the company just&nbsp;<a href="https://www.ballard.com/about-ballard/newsroom/news-releases/2024/03/14/ballard-announces-%2440-million-in-doe-grants-to-support-build-out-of-integrated-fuel-cell-production-gigafactory-in-rockwall-texas">received $40 million in Department of Energy grants</a>&nbsp;to support its build-out of an integrated full cell production Gigafactory in Texas. Plus, Ballard just announced&nbsp;<a href="https://www.prnewswire.com/news-releases/ballard-announces-largest-order-in-company-history--1-000-engines-to-power-solaris-buses-across-europe-302104255.html">its biggest order in company history</a>&nbsp;after signing a long-term supply agreement with Solaris Bus &amp; Coach for 1,000 hydrogen fuel cell engines for the European transit bus market.



&ldquo;These engines are expected to be deployed in buses across Europe where Solaris buses powered by Ballard fuel cell engines currently operate in over 22 European cities,&rdquo;&nbsp;<a href="//34F05B8E-0FED-48E8-B2F6-5B0F78405A9A/Solaris%20Bus">added the company press release</a>.&nbsp;



We&rsquo;ll get a better idea of how the company is doing, with guidance when it releases first quarter earnings on Tuesday, May 7 at 11am EST.



<h2>Plug Power (PLUG)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/01/plug1600-3-300x169.png" alt="Person holding smartphone with logo of US hydrogen fuel cell company Plug Power Inc. on screen in front of website. Focus on phone display. Unmodified photo. PLUG stock"><div>Source: T. Schneider / Shutterstock.com</div></div>We can also look at beaten-down shares of&nbsp;Plug Power&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/plug-stock-quote/">PLUG</a>).



For one, according to the company, it has resolved its &ldquo;going concern issue.&rdquo; In fact,&nbsp;<a href="https://www.ir.plugpower.com/press-releases/news-details/2024/Plug-Highlights-Year-of-Strategic-Growth-and-Advancements-in-Accelerating-the-Green-Hydrogen-Economy/#:~:text=Financial%20Stability%20and%20Growth%3A%20Plug,concern%2C%20demonstrating%20the%20Company's%20financial">according to a company press release</a>, &ldquo;Plug has resolved the going concern issue as previously disclosed in the Form 10-Q for the quarter ended September 30, 2023, and has concluded that there is no longer substantial doubt of the Company&rsquo;s ability to continue as a going concern.&rdquo;



Two, the company&rsquo;s revenue ballooned to $891 million in 2023, a 27% jump year over year. In addition, while&nbsp;<a href="https://finance.yahoo.com/news/plug-power-stock-55-upside-151300835.html">Evercore ISI cut its price target on PLUG to $6 from $9</a>, it still has an outperform rating on the stock. Also, with its production facility online it will reportedly be able to produce 15 tons of green hydrogen per day, and to about 40 tons by year-end.&nbsp;



And it expanded its partnership with Uline, which will include &rdquo;the&nbsp;integration of on-site hydrogen infrastructure with the installation of a 18,000-gallon hydrogen storage tank and 17 hydrogen dispensers to service four distribution centers within the campus. The partnership also includes the addition of 250 fuel cell forklifts that will operate on hydrogen generated on-site through Plug&rsquo;s state-of-the-art infrastructure,&rdquo;&nbsp;<a href="https://www.globenewswire.com/news-release/2024/02/23/2834382/9619/en/Plug-and-Uline-Expand-Partnership-to-Supply-Hydrogen-and-Fuel-Cells-at-Four-Additional-Sites.html">as noted in a press release</a>.



<h2>Direxion Hydrogen ETF (HJEN)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/12/hydrogen-plug-1600-300x169.jpg" alt="Hydrogen Stocks Man hold a fuel dispenser with hydrogen on gas station. h2 combustion engine for emission free eco friendly transport. Plug Power is one such company working on this power source. undervalued hydrogen stocks"><div>Source: Alexander Kirch / Shutterstock.com</div></div>Or, if you want to gain bigger exposure to hydrogen, there&rsquo;s always an exchange traded fund (ETF), like the&nbsp;Direxion Hydrogen ETF&nbsp;(NYSEARCA:<a href="https://investorplace.com/stock-quotes/hjen-stock-quote/">HJEN</a>).



With an expense ratio of 0.45%, the ETF offers exposure to about 30 hydrogen stocks with a focus on hydrogen production and generation, storage and supply, fuel cells and batteries, in addition to systems, solutions, membranes, and catalysts. Some of its top holdings include&nbsp;Bloom Energy,&nbsp;Air Liquide (OTCMKTS:<a href="https://investorplace.com/stock-quotes/aiquy-stock-quote/">AIQUY</a>),&nbsp;Ballard Power, Linde, and&nbsp;Plug Power.



What&rsquo;s nice about an ETF like HJEN is that it offers solid exposure to multiple hydrogen names at a low cost. For example, if I wanted to make 100 shares of HJEN, it would cost me close to $1,100. If I were to buy just one of the ETF&rsquo;s holdings such as Linde, for example, it would cost me closer to $4,540. I&rsquo;d rather pay $1,100 for greater exposure to hydrogen.



<h2>Global X Hydrogen ETF (HYDR)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/06/hydrogen-300x169.jpg" alt="An image of the name H2 presented in the form of green leaves on a table next to other hydrogen-based products"><div>Source: Shutterstock</div></div>Or, you could always diversify with the&nbsp;Global X Hydrogen&nbsp;ETF&nbsp;(NASDAQ:<a href="https://investorplace.com/stock-quotes/hydr-stock-quote/">HYDR</a>).



With an expense ratio of 0.5%, the ETF invests in stocks involved with hydrogen production, and the development and manufacturing of hydrogen fuel cells. Some of its top holdings include Bloom Energy,&nbsp;Plug Power,&nbsp;Ballard Power,&nbsp;ITM Power&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/itmpf-stock-quote/">ITMPF</a>) and&nbsp;Ceres Power&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/cpwhf-stock-quote/">CPWHF</a>).



While its chart is a bit ugly, give it time. With a good deal of excitement in hydrogen, HYDR could easily bounce well off its current lows. Last trading at $5.60, I&rsquo;d like to see it triple from here when hydrogen names start to take off again. According to Goldman Sachs and Bank of America, hydrogen could potentially be a $12 trillion market.



In addition,&nbsp;according to the&nbsp;<a href="https://www.iea.org/reports/hydrogen">International Energy Agency</a>, global hydrogen demand will need to double from about 94Mt in 2021 to more than 180 by 2030. Europe may need to see a six-fold increase in demand by 2050.&nbsp;



On the date of publication, Ian Cooper&nbsp;did not have (either directly or indirectly) any positions in the securities mentioned.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/wall-street-favorites-7-hydrogen-stocks-with-strong-buy-ratings-for-april-2024/">Wall Street Favorites: 7 Hydrogen Stocks with Strong Buy Ratings for April 2024 </a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

Wall Street Favorites: 7 Hydrogen Stocks with Strong Buy Ratings for April 2024

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