Ballard Power Systems (NASDAQ:BLDP) has announced that its unit Protonex has received a $1.0 million order to supply SPM-622 Squad Power Manager Kits to support U.S. Army brigades deploying overseas. The waterproof SPM-622 Squad Power Manager works as a universal power hub and automatic voltage converter, lowering battery burden and supporting missions in harsh environment.
The SPM-622 Squad Power Manager system’s ability to convert and manage the power that the unit is drawing or passing through makes it unique and helps today’s warfighter to manage energy between batteries and electronic equipment.
These units will be produced from the company’s facility in Southborough, MA.
Rising Importance of SPM-622
During March 2018, Ballard’s unit received two orders, having a combined worth of $3.5 million, from the U.S. Army to supply SPM-622 Squad Power Manager Kits.
Efficient management of power allows the warfighters to continue operating the electronic gadgets they carry during the missions. SPM-622 is designed to do just that for the warfighters. It can draw power from any source — including battery, solar, vehicle, AC, or scavenged energy sources — to run equipment or recharge batteries.
The U.S. Army has been selecting and introducing Protonex intelligent power managers to lighten the load for infantry personnel, while extending mission time and capabilities. More than 5,000 units have been deployed by the United States and NATO Partner Nations, and we expect Ballard unit to receive more orders over the long run.
Price Movement
In the past month, Ballard Power’s shares have lost 9.4%, wider than its industry’s decline of 3.0%.
Zacks Rank and Stocks to Consider
Ballard Power Systems currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the industry are IEC Electronics Corp. (NYSE:IEC) , Stoneridge, Inc. (NYSE:SRI) and Vishay Precision Group, Inc. (NYSE:VPG) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
IEC Electronics reported average positive earnings surprise of 93.75% in the last four quarters. The Zacks Consensus Estimate for fiscal 2018 EPS has moved up 58.1% to 49 cents in the past 60 days.
Stoneridge delivered average positive earnings surprise of 16.98% in the trailing four quarters. The Zacks Consensus Estimate for 2018 EPS has been revised upward 6.6% to $2.10 in the past 60 days.
Vishay Precision Group reported average positive earnings surprise of 15.65% in the last four quarters. The Zacks Consensus Estimate for 2018 EPS has moved up 21.2% to $1.66 in the past 60 days.
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