CanadaNov. 16, 2025 7:53 PM ETBallard Power Systems Inc. (BLDP) Stock, BLDP:CA StockBLDP, BLDP:CAHenrik AlexInvesting GroupCommentsSummaryBallard Power reported better-than-expected third quarter results with meaningful top line outperformance and gross margins recovering into positive territory.However, results were boosted by a sizeable one-time gain. Consequently, management expects margins to turn negative again next quarter.Given persistent lack of hydrogen fuel cell adoption in the marketplace, there's no visible path to profitability for Ballard Power.With approximately $100 million in annual cash burn, its difficult to assign any sort of value to the business at this point.At least in my opinion, investors should consider using the recent hype-driven rally in Ballard Power's shares to dispose of existing positions and move on. Consequently, I am downgrading the company's stock from "Hold" to "Sell" with a price target of $1.70.Scharfsinn86/iStock via Getty ImagesI have covered Ballard Power Systems Inc. (BLDP), (BLDP:CA) previously, so investors should view this as an update to my earlier articles on the company.Last week, leading Canadian fuel cell systems developer Ballard Power Systems ("Ballard" or "BallardMore on my IG serviceMassively Outperform in Any MarketValue Investor's Edge provides the world's best energy, shipping, and offshore market research. Over the past decade, we have achieved an annualized return of almost 40% with a long-only model portfolio return of over 23x. We also offer income-focused picks for those who prefer lower-risk firms with steady dividend payouts. Our 10-year track record proves the ability of our analyst team to outperform across all market conditions.Join VIE now to access our latest top picks and model portfolios.Value Investor's EdgeThis article was written byHenrik Alex20.63K FollowersI am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for PricewaterhouseCoopers before becoming a daytrader almost 20 years ago. During this time, I managed to successfully maneuver the burst of the dotcom bubble and the aftermath of the world trade center attacks as well as the subprime crisis.Despite not being a native speaker, I always try to deliver high quality research to followers and the entire Seeking Alpha community.Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.Comments