What’s Causing the Drop in Ballard Power Systems Stock Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Source: Benzinga
Earnings Report: Ballard Power Systems reported a net loss of $28.1 million for Q3 FY25, which was better than expected, with revenue increasing 120% year-over-year to $32.5 million, surpassing analyst estimates.
Segment Performance: Heavy Duty Mobility revenue rose 83% year-over-year, while truck revenue saw a significant decline of 91%. Other segments like marine and stationary revenue experienced substantial growth.
Cost Management: The company achieved a 40% reduction in cash operating costs year-over-year and a 36% decrease in total operating expenses, excluding restructuring costs.
Future Outlook: Ballard Power expects revenue growth to be stronger in the second half of 2025 and has lowered its capital expenditure outlook, while also deciding against expanding manufacturing with a Texas Gigafactory.
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Analyst Views on BLDP
Wall Street analysts forecast BLDP stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BLDP is 2.74 USD with a low forecast of 1.40 USD and a high forecast of 3.50 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
0 Buy
5 Hold
1 Sell
Hold
Current: 2.490
Low
1.40
Averages
2.74
High
3.50
Current: 2.490
Low
1.40
Averages
2.74
High
3.50
About BLDP
Ballard Power Systems Inc. is engaged in the design, development, manufacture, sale and service of proton exchange membrane (PEM) fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. The Company operates through fuel cell products and services segment. Embedded in each Ballard fuel cell product lies a stack of unit cells designed with its PEM fuel cell technology that includes membrane electrode assemblies, catalysts, plates, and other key components, and draw on intellectual property from its patent portfolio, together with its experience and know-how, in key areas of PEM fuel cell stack design, operation, production processes and systems integration.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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