Ballard Power Systems Inc. (NASDAQ:BLDP) does about 3.94M shares in volume on a normal day but saw 8115933 shares change hands in Friday trading. The company now has a market cap of 3.67B USD and an enterprise value of about $3.52B. Its current market price is $16.22, marking an increase of 7.71% compared to the previous close of $15.06. The 52 week high reached by this stock is $21.61 whilst the lowest price level in 52 weeks is $4.25. The script in recent trading has seen the stock touch a high of $16.58 and a low of $15.41.
Ballard Power Systems Inc. (BLDP) has a 20-day trading average at $15.01 and the current price is -24.97% off the 52-week high compared with 281.53% distance from its 52-week low. The 50-day simple moving average of the closing price is $16.04 and its 200-day simple moving average is $10.81. If we look at the stock’s price movements over the week, volatility stands at 7.47%, which decreases to 6.62% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.99 to suggest the stock is neutral.
8 analysts observing the Ballard Power Systems Inc. (BLDP) stock have set the 12-month price targets for the company’s shares at between $15.00 and $28.00. The consensus objective for the share price is $21.31, suggesting that the stock has a potential upside of 23.89% over the period. The median price target is 18.9% away from the current levels at $20.00.
FactSet Research has provided data showing that 8 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 2 advise that it is a overweight. 5 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 20, 2020 when National Bank Financial upgraded the stock to “Outperform” and issued a price target of. TD Securities also upgraded the stock to “Speculative Buy” from Hold on August 17, 2020 at a price target of. Lake Street reiterated its price target at $13-$20.
The current price level is 8.20%, 1.61%, and 50.79% away from its SMA20, SMA50, and SMA200 respectively, with the BLDP price moving above the 50-day SMA on August 21. Ballard Power Systems Inc. (BLDP) stock is up 12.84% over the week and -0.95% over the past month. Its price is 125.84% year-to-date and 265.20% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.05 below consensus estimates by -$0.01. The company’s next earnings report is expected on 10/28/2020, with forecasts estimating quarterly EPS at -$0.05 and -$0.17 for whole year. BLDP’s earnings per share are forecast to shrink by -6.30% this year and 35.30% over next year. Expected sales for next quarter are $39.44 million, which analysts say will come at $117.14 million for the current fiscal year and next year at $151.33 million. In addition, estimates put the company’s current quarterly revenue at an average of $27.77 million.
Its 12-month price target is $20.00. To reach the target analysts have set, the stock logically needs to grow 23.89 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $15.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $28.00.
Outstanding shares total 243.77M with insiders holding 28.54% of the shares and institutional holders owning 7.73% of the company’s common stock. The company has a return on investment of -10.20% and return on equity of -16.50%. The beta has a value of 1.59. Price to book ratio is 13.51 and price to sales ratio is 31.53.
According to a U.S. Securities and Exchange Commission filing, CI First Asset Morningstar Canada has reduced its position in Ballard Power Systems Inc. (BLDP) to 1,760,473 shares, mirroring a recent drop by -3.69%. CI First Asset Morningstar Canada dumped 67539.0 shares of Ballard Power Systems Inc. common stock bringing its total worth to about $25.03 million at the end of recent close, SEC documents show. CI First Asset Morningstar Canada isn’t the only investment manager who changed stakes and is followed by SMDAM Global EV Related Equity Mo, which added 0.19 million shares to end up with 1,532,787 shares worth $21.8 million. Argenta Fund – Responsible Utilit raise their holdings by 6.11% in the company over the course of the most recent quarter. It now holds a 0.42% position in Ballard Power Systems Inc. thanks to 1.01 million shares amounting to $14.36 million.