Ballard Power Systems Inc. (NASDAQ:BLDP) shares, rose in value, with the stock price down by -1.54% to the previous day’s close as strong demand from buyers drove the stock to $3.19.
Actively observing the price movement in the last trading, the stock closed the session at $3.24. The value of beta (5-year monthly) was 1.69. Referring to stock’s 52-week performance, its high was $5.68, and the low was $2.66. On the whole, BLDP has fluctuated by 1.27% over the past month.
With the market capitalization of Ballard Power Systems Inc. currently standing at about $953.94 million, investors are eagerly awaiting this quarter’s results, scheduled for May 08, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to -$0.11 for fiscal year -$0.61 and then to about -$0.46 by fiscal year 2025. Data indicates that the EPS growth is expected to be -27.10% in 2025, while the next year’s EPS growth is forecast to be 24.60%.
Analysts have estimated the company’s revenue for the quarter at $16.91 million, with a low estimate of $13.5 million and a high estimate of $20 million. According to the average forecast, sales growth in current quarter could jump up 26.70%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $114.82 million, representing an increase of 12.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BLDP’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BLDP currently trading nearly 9.05% and 3.41% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 57.29, while the 7-day volatility ratio is showing 5.95% which for the 30-day chart, stands at 5.33%. Furthermore, Ballard Power Systems Inc. (BLDP)’s beta value is 1.63, and its average true range (ATR) is 0.17.
A comparison of Ballard Power Systems Inc. (BLDP) with its peers suggests the former has fared considerably weaker in the market. BLDP showed an intraday change of -1.54% in last session, and over the past year, it shrunk by -42.00%%.
Data on historical trading for Ballard Power Systems Inc. (NASDAQ:BLDP) indicates that the trading volumes over the past 10 days have averaged 3.96 million and over the past 3 months, they’ve averaged 3.17 million. According to company’s latest data on outstanding shares, there are 298.94 million shares outstanding.
Nearly 19.12% of Ballard Power Systems Inc.’s shares belong to company insiders and institutional investors own 22.23% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 22.85 million shares as on Mar 15, 2024, resulting in a short ratio of 7.55. According to the data, the short interest in Ballard Power Systems Inc. (BLDP) stood at 7.75% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 23.5 million. The stock has fallen by -13.78% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BLDP stock heading into the next quarter.
