Ballard Power Systems Inc. (NASDAQ: BLDP): Performance Review And Growth Outlook

In the last trading session, 1.2 million Ballard Power Systems Inc. (NASDAQ:BLDP) shares changed hands as the company’s beta touched 1.89. With the company’s per share price at $3.62 changed hands at -$0.04 or -1.09% during last session, the market valuation stood at $1.08B. BLDP’s last price was a discount, traded about -96.13% off its 52-week high of $7.10. The share price had its 52-week low at $3.12, which suggests the last value was 13.81% up since then. When we look at Ballard Power Systems Inc.’s average trading volume, we note the 10-day average is 2.33 million shares, with the 3-month average coming to 2.16 million.

Analysts gave the Ballard Power Systems Inc. (BLDP) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.92. If we narrow down to specifics, the data shows that 3 out of 24 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 16 recommended BLDP as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. Ballard Power Systems Inc.’s EPS for the current quarter is expected to be -$0.13.

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Ballard Power Systems Inc. (NASDAQ:BLDP) trade information

Instantly BLDP was in red as seen at the end of in last trading. With action 10.70%, the performance over the past five days has been green. The drop to weekly highs of 3.79 on Monday, 11/20/23 subtracted -1.09% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.43%, with the 5-day performance at 10.70% in the green. However, in the 30-day time frame, Ballard Power Systems Inc. (NASDAQ:BLDP) is 8.71% up. Looking at the short shares, we see there were 24.55 million shares sold at short interest cover period of 10.14 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.46, meaning bulls need an upside of 33.7% from its current market value. According to analyst projections, BLDP’s forecast low is $3.00 with $15.00 as the target high. To hit the forecast high, the stock’s price needs a -314.36% plunge from its current level, while the stock would need to tank 17.13% for it to hit the projected low.

Ballard Power Systems Inc. (BLDP) estimates and forecasts

Data shows that the Ballard Power Systems Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -23.31% over the past 6 months, a 5.56% in annual growth rate that is considerably higher than the industry average of 2.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ballard Power Systems Inc. will fall -18.20%, while the growth in revenue is estimated to hit -18.20% for the next quarter. Year-over-year growth is forecast to reach 10.30% up from the last financial year.

Consensus estimates given by 15 financial analysts project the company’s revenue in the current quarter to hit an average of $33.43 million. 10 analysts are of the opinion that Ballard Power Systems Inc.’s revenue for the quarter ending Mar 2024 will be $21.76 million. The company’s revenue for the corresponding quarters a year ago was $20.46 million and $13.35 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 63.40%. The estimates for the next quarter sales put growth at 63.10%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -63.38%. The 2023 estimates are for Ballard Power Systems Inc. earnings to increase by 9.10%, but the outlook for the next 5-year period is at 0.03% per year.

BLDP Dividends

Ballard Power Systems Inc. is expected to release its next quarterly earnings report on November 07.

Ballard Power Systems Inc. (NASDAQ:BLDP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 15.57% of Ballard Power Systems Inc. shares while 32.21% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 38.15%. There are 32.21% institutions holding the Ballard Power Systems Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 3.01% of the shares, roughly 8.97 million BLDP shares worth $39.12 million.

Public Investment Fund holds the second largest percentage of outstanding shares, with 2.36% or 7.05 million shares worth $30.72 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were Vanguard International Stock Index-Total Intl Stock Indx and iShares Global Clean Energy ETF. With 3.33 million shares estimated at $15.7 million under it, the former controlled 1.11% of total outstanding shares. On the other hand, iShares Global Clean Energy ETF held about 1.01% of the shares, roughly 3.01 million shares worth around $12.64 million.

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