Piper Sandler lifts Ballard Power Systems Inc. [BLDP] price estimate. Who else is bullish?


Ballard Power Systems Inc. [NASDAQ: BLDP] jumped around 0.42 points on Wednesday, while shares priced at $6.25 at the close of the session, up 7.20%. The company report on June 9, 2022 that Ballard Power announces results of Annual General Meeting 2022.

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Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced results of its 2022 Annual General Meeting, which was held yesterday as a virtual event.

All nominees listed in the Management Proxy Circular dated April 11th, 2022 were elected as directors of the Company. Each of the Ballard directors was re-elected by a majority of the votes cast by shareholders present or represented by proxy. Director biographies are available in the “Our Leadership” section of the Company’s website.

Ballard Power Systems Inc. stock is now -50.24% down from its year-to-date (YTD) trading value. BLDP Stock saw the intraday high of $6.35 and lowest of $5.83 per share. The company’s 52-week high price is 19.66, which means current price is +8.70% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 4.33M shares, BLDP reached a trading volume of 5750096 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Ballard Power Systems Inc. [BLDP]?

Piper Sandler have made an estimate for Ballard Power Systems Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on June 08, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Sector Weight. The new note on the price target was released on June 02, 2022, representing the official price target for Ballard Power Systems Inc. stock. Previously, the target price had yet another raise to $13, while Truist analysts kept a Hold rating on BLDP stock. On February 07, 2022, analysts decreased their price target for BLDP shares from 23 to 10.

The Average True Range (ATR) for Ballard Power Systems Inc. is set at 0.55, with the Price to Sales ratio for BLDP stock in the period of the last 12 months amounting to 17.86. The Price to Book ratio for the last quarter was 1.45, with the Price to Cash per share for the same quarter was set at 3.47.

How has BLDP stock performed recently?

Ballard Power Systems Inc. [BLDP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.11. With this latest performance, BLDP shares dropped by -5.16% in over the last four-week period, additionally sinking by -49.43% over the last 6 months – not to mention a drop of -63.66% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLDP stock in for the last two-week period is set at 39.07, with the RSI for the last a single of trading hit 37.83, and the three-weeks RSI is set at 39.73 for Ballard Power Systems Inc. [BLDP]. The present Moving Average for the last 50 days of trading for this stock 8.15, while it was recorded at 6.36 for the last single week of trading, and 12.00 for the last 200 days.

Ballard Power Systems Inc. [BLDP]: Deeper insight into the fundamentals

Ballard Power Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 14.60 and a Current Ratio set at 15.40.

Earnings analysis for Ballard Power Systems Inc. [BLDP]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BLDP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ballard Power Systems Inc. go to 0.03%.

Insider trade positions for Ballard Power Systems Inc. [BLDP]

There are presently around $490 million, or 16.40% of BLDP stock, in the hands of institutional investors. The top three institutional holders of BLDP stocks are: PUBLIC INVESTMENT FUND with ownership of 9,709,900, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; VANGUARD GROUP INC, holding 8,147,247 shares of the stock with an approximate value of $47.5 million in BLDP stocks shares; and BLACKROCK INC., currently with $26.43 million in BLDP stock with ownership of nearly -41.527% of the company’s market capitalization.

Positions in Ballard Power Systems Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 98 institutional holders increased their position in Ballard Power Systems Inc. [NASDAQ:BLDP] by around 11,505,654 shares. Additionally, 111 investors decreased positions by around 17,076,655 shares, while 64 investors held positions by with 55,506,711 shares. The mentioned changes placed institutional holdings at 84,089,020 shares, according to the latest SEC report filing. BLDP stock had 30 new institutional investments in for a total of 3,212,082 shares, while 44 institutional investors sold positions of 6,004,727 shares during the same period.