Ballard Power Systems Inc. (NASDAQ: BLDP) Stock: A Game-Changer?

In the last trading session, 2.22 million shares of the Ballard Power Systems Inc. (NASDAQ:BLDP) were traded, and its beta was 1.66. Most recently the company’s share price was $2.78, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $831.33M. BLDP currently trades at a discount to its 52-week high of $5.68, offering almost -104.32% off that amount. The share price’s 52-week low was $2.66, which indicates that the current value has risen by an impressive 4.32% since then. We note from Ballard Power Systems Inc.’s average daily trading volume that its 10-day average is 2.38 million shares, with the 3-month average coming to 2.87 million.

Ballard Power Systems Inc. stock received a consensus recommendation rating of Hold, based on a mean score of 2.95. If we narrow it down even further, the data shows that 3 out of 21 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 14 recommended BLDP as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Ballard Power Systems Inc. is expected to report earnings per share of -$0.14 for the current quarter.

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

The performance over the last five days has remained in the red territory. The company’s shares are currently down -24.86% year-to-date, but still down -2.46% over the last five days. On the other hand, Ballard Power Systems Inc. (NASDAQ:BLDP) is -8.85% down in the 30-day period. We can see from the shorts that 22.85 million shares have been sold at a short interest cover period of 7.55 day(s).

The consensus price target as assigned by Wall Street analysts is $9.25, which translates to bulls needing to increase their stock price by 69.95% from its current value. Analyst projections state that BLDP is forecast to be at a low of $2.3 and a high of $15.

Ballard Power Systems Inc. (BLDP) estimates and forecasts

Ballard Power Systems Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -21.91 percent over the past six months and at a -6.25% annual growth rate that is well below the industry average of 0.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -27.30% in revenue this quarter, and will report a decrease of -30.00% in the next quarter. The year-over-year growth rate is expected to be 12.20%, up from the previous year.

Consensus estimates provided by 13 financial analysts predict the company will bring in an average of $16.84 million in revenue for the current quarter. 15 analysts expect Ballard Power Systems Inc. to make $20.77 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $13.35 million and $15.88 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 26.20%. Forecasts for the next quarter put sales growth at 30.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -32.26%. Ballard Power Systems Inc. earnings are expected to increase by 10.69% in 2024, but the outlook is positive 0.03% per year for the next five years.

BLDP Dividends

Ballard Power Systems Inc.’s next quarterly earnings report is expected to be released around May 08 and May 13.

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

Upon looking at major shareholders, it appears that insiders hold 15.56% of Ballard Power Systems Inc. shares, and 32.96% of them are in the hands of institutional investors. The stock currently has a share float of 39.03%. Ballard Power Systems Inc. stock is held by 301 institutions, with Vanguard Group Inc being the largest institutional investor. By Jun 29, 2023, it held 3.01% of the shares, which is about 8.97 million shares worth $39.12 million.

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

Vanguard International Stock Index-Total Intl Stock Indx and iShares Global Clean Energy ETF were the top two Mutual Funds as of Jul 30, 2023. The former held 3.33 million shares worth $15.7 million, making up 1.11% of all outstanding shares. On the other hand, iShares Global Clean Energy ETF held roughly 3.01 million shares worth around $12.64 million, which represents about 1.01% of the total shares outstanding.