Ballard Power Systems Inc (NASDAQ:BLDP) price on Wednesday, July 02, rose 3.73% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $1.67.
A look at the stock’s price movement, the close in the last trading session was $1.61. Turning to its 52-week performance, $2.71 and $1.00 were the 52-week high and 52-week low respectively. Overall, BLDP moved 30.47% over the past month.
Ballard Power Systems Inc’s market cap currently stands at around $500.72 million, with investors looking forward to this quarter’s earnings report slated for in August.
Analysts have a consensus estimate of 17.94M for the company’s revenue for the quarter, with a low and high estimate of 12.9M and 23.76M respectively. The average forecast suggests up to a 12.11% 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 92.6M, representing a 32.80% jump 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 100% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy 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 6.85% and 18.71% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.76, while 7-day volatility ratio is 8.62% and 7.43% in the 30-day chart. Further, Ballard Power Systems Inc (BLDP) has a beta value of 1.75. Analysts have given the company’s stock an average 52-week price target of $1.275, forecast between a low of $1 and high of $2. Looking at the price targets, the low is 40.12% off current price level while to achieve the yearly target high, price needs to move -19.76%. Nonetheless, investors will most likely welcome a 23.65% jump to $1.275 which is the analysts’ median price.
If we refocus on Ballard Power Systems Inc (NASDAQ:BLDP), historical trading data shows that trading volumes averaged 9.12 million over the past 3 months. The company’s latest data on shares outstanding shows there are 299.83 million shares.
The 16.71% of Ballard Power Systems Inc’s shares are in the hands of company insiders while institutional holders own 20.42% of the company’s shares. Current price change has pushed the stock -25.78% 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.
