Ballard Power Systems Inc. (BLDP): A Fresh Data-Based Analysis

Ballard Power Systems Inc. (NASDAQ:BLDP) price on Thursday, March 28, remained unchanged to $2.78.

A look at the stock’s price movement, the close in the last trading session was $2.78. The beta value (5-Year monthly) was 1.69. Turning to its 52-week performance, $5.68 and $2.66 were the 52-week high and 52-week low respectively. Overall, BLDP moved -8.85% over the past month.

Ballard Power Systems Inc.’s market cap currently stands at around $831.33 million, with investors looking forward to this quarter’s earnings report slated for May 08, 2024 – May 13, 2024. Analysts project the company’s earnings per share (EPS) to be -$0.14, which has seen fiscal year 2024 EPS growth forecast to increase to -$0.62 and about -$0.46 for fiscal year 2025. Per the data, EPS growth is expected to be -29.20% for 2024 and 25.80% for the next financial year.

Analysts have a consensus estimate of $16.84 million for the company’s revenue for the quarter, with a low and high estimate of $13.5 million and $20 million respectively. The average forecast suggests up to a 26.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $114.85 million, representing a 12.20% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that BLDP is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.

BLDP’s current price about -5.43% and -9.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 42.04, while 7-day volatility ratio is 4.12% and 5.02% in the 30-day chart. Further, Ballard Power Systems Inc. (BLDP) has a beta value of 1.66, and an average true range (ATR) of 0.14.

If we refocus on Ballard Power Systems Inc. (NASDAQ:BLDP), historical trading data shows that trading volumes averaged 2.38 million over the past 10 days and 2.87 million over the past 3 months. The company’s latest data on shares outstanding shows there are 298.94 million shares.

The 19.12% of Ballard Power Systems Inc.’s shares are in the hands of company insiders while institutional holders own 22.22% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 22.85 million on Mar 15, 2024, giving us a short ratio of 7.55. The data shows that as of Mar 15, 2024 short interest in Ballard Power Systems Inc. (BLDP) stood at 7.75% of shares outstanding, with shares short falling to 23.5 million registered in Feb 15, 2024. Current price change has pushed the stock -24.86% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BLDP stock continues to rise going into the next quarter.

Most Popular