Now Is A Good Time To Buy Ballard Power Systems Inc. (NASDAQ: BLDP)


During the last session, Ballard Power Systems Inc. (NASDAQ:BLDP)’s traded shares were 2.78 million, with the beta value of the company hitting 1.63. At the end of the trading day, the stock’s price was $3.24, reflecting an intraday gain of 3.51% or $0.11. The 52-week high for the BLDP share is $5.68, that puts it down -75.31 from that peak though still a striking 17.9% gain since the share price plummeted to a 52-week low of $2.66. The company’s market capitalization is $968.89M, and the average intraday trading volume over the past 10 days was 3.96 million shares, and the average trade volume was 3.16 million shares over the past three months.

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

Ballard Power Systems Inc. (BLDP) registered a 3.51% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 3.51% in intraday trading to $3.24, hitting a weekly high. The stock’s 5-day price performance is 21.80%, and it has moved by 1.25% in 30 days. Based on these gigs, the overall price performance for the year is -41.83%. The short interest in Ballard Power Systems Inc. (NASDAQ:BLDP) is 22.85 million shares and it means that shorts have 7.55 day(s) to cover.

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Ballard Power Systems Inc. (BLDP) estimates and forecasts

Statistics show that Ballard Power Systems Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Ballard Power Systems Inc. (BLDP) shares have gone down -5.54% during the last six months, with a year-to-date growth rate less than the industry average at -6.25% against 0.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -27.30% this quarter and then drop -30.00% in the quarter after that. In the rating firms’ projections, revenue will increase 12.10% compared to the previous financial year.

Revenue for the current quarter is expected to be $16.91 million as predicted by 12 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $20.89 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $13.35 million and $15.88 million respectively. In this case, analysts expect current quarter sales to grow by 26.70% and then jump by 31.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -32.26%. While earnings are projected to return 11.04% in 2024, the next five years will return 0.03% per annum.

BLDP Dividends

Ballard Power Systems Inc. is due to release its next quarterly earnings between May 08 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Ballard Power Systems Inc. insiders own 15.56% of total outstanding shares while institutional holders control 32.96%, with the float percentage being 39.03%. Vanguard Group Inc is the largest shareholder of the company, while 301 institutions own stock in it. As of Jun 29, 2023, the company held over 8.97 million shares (or 3.01% of all shares), a total value of $39.12 million in shares.

The next largest institutional holding, with 7.05 million shares, is of Public Investment Fund’s that is approximately 2.36% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $30.72 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ballard Power Systems Inc. (BLDP) shares are Vanguard International Stock Index-Total Intl Stock Indx and iShares Global Clean Energy ETF. Data provided on Jul 30, 2023 indicates that Vanguard International Stock Index-Total Intl Stock Indx owns about 3.33 million shares. This amounts to just over 1.11 percent of the company’s overall shares, with a $15.7 million market value. The same data shows that the other fund manager holds slightly less at 3.01 million, or about 1.01% of the stock, which is worth about $12.64 million.