Ballard Power Systems Inc (NASDAQ:BLDP) price on Tuesday, December 24, rose 0.59% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.70.
A look at the stock’s price movement, the close in the last trading session was $1.69, moving within a range at $1.64 and $1.76. The beta value (5-Year monthly) was 1.746. Turning to its 52-week performance, $3.83 and $1.23 were the 52-week high and 52-week low respectively. Overall, BLDP moved 29.76% over the past month.
Ballard Power Systems Inc’s market cap currently stands at around $508.98 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 28.69M for the company’s revenue for the quarter, with a low and high estimate of 19.8M and 36.3M respectively. The average forecast suggests down to a -38.64% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 74.54M, representing a -27.19% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that BLDP is a Hold. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
6 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 3 analyst(s) rate the stock as a Hold, 2 recommend BLDP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
BLDP’s current price about 7.80% and 11.86% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 60.67, while 7-day volatility ratio is 7.53% and 7.77% in the 30-day chart. Further, Ballard Power Systems Inc (BLDP) has a beta value of 1.69, and an average true range (ATR) of 0.11. Analysts have given the company’s stock an average 52-week price target of $1.55, forecast between a low of $1.5 and high of $1.6. Looking at the price targets, the low is 11.76% off current price level while to achieve the yearly target high, price needs to move 5.88%. Nonetheless, investors will most likely welcome a 8.82% jump to $1.55 which is the analysts’ median price.
If we refocus on Ballard Power Systems Inc (NASDAQ:BLDP), historical trading data shows that trading volumes averaged 7.62 over the past 10 days and 4.80 million over the past 3 months. The company’s latest data on shares outstanding shows there are 299.42 million shares.
The 17.95% of Ballard Power Systems Inc’s shares are in the hands of company insiders while institutional holders own 19.66% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 12.68 million on 2024-11-29, giving us a short ratio of 3.41. Current price change has pushed the stock -54.06% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BLDP stock continues to rise going into the next quarter.
