Ballard Power Systems Inc. (NASDAQ: BLDP) Stock Forecast: An Analysis

In the last trading session, 2.59 million Ballard Power Systems Inc. (NASDAQ:BLDP) shares changed hands as the company’s beta touched 1.63. With the company’s per share price at $2.79 changed hands at -$0.15 or -5.10% during last session, the market valuation stood at $834.32M. BLDP’s last price was a discount, traded about -103.58% off its 52-week high of $5.68. The share price had its 52-week low at $2.66, which suggests the last value was 4.66% up since then. When we look at Ballard Power Systems Inc.’s average trading volume, we note the 3-month average coming to 3.16 million.

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

Instantly BLDP was in red as seen at the end of in last trading. With action -11.15%, the performance over the past five days has been red. The drop to weekly highs of 3.38 subtracted -5.10% to the stock’s daily price. The company’s shares are showing year-to-date downside of -24.59%, with the 5-day performance at -11.15% in the red. However, in the 30-day time frame, Ballard Power Systems Inc. (NASDAQ:BLDP) is 2.20% up.

Ballard Power Systems Inc. (BLDP) estimates and forecasts

Data shows that the Ballard Power Systems Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -24.18% over the past 6 months, a -6.25% in annual growth rate that is considerably lower than the industry average of 1.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Ballard Power Systems Inc. will fall -27.30%, while the growth in revenue is estimated to hit -30.00% for the next quarter. Year-over-year growth is forecast to reach 12.20% up from the last financial year.

Consensus estimates given by 12 financial analysts project the company’s revenue in the current quarter to hit an average of $16.91 million. 14 analysts are of the opinion that Ballard Power Systems Inc.’s revenue for the quarter ending Jun 2024 will be $20.89 million. The company’s revenue for the corresponding quarters a year ago was $13.35 million and $15.88 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 26.70%. The estimates for the next quarter sales put growth at 31.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -32.26%. The 2024 estimates are for Ballard Power Systems Inc. earnings to increase by 10.61%, but the outlook for the next 5-year period is at 0.03% per year.