We don’t expect the share price to increase a lot from $8. Ballard trades at more than 15x 2019 sales. Yes, the company’s revenue growth is impressive. However, the current valuation is not justified.
The share price is set to decline to $4-$5.
See the chart below for more details on the matter:
BLDP EV to Revenues (Forward) data by YCharts
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# Equity Research Report: BANGI, Inc. (OTCMKTS: BNGI) Growing Through Acquisitions
# Lennox International (NYSE: LII): We Don’t Like The Accumulation Of Inventory
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