Ballard Power Systems Inc. [NASDAQ: BLDP] loss -3.35% or -0.19 points to close at $5.48 with a heavy trading volume of 3396328 shares. The company report on March 1, 2023 that Ballard & First Mode sign order for 30 additional hydrogen fuel cells for diesel-free mining trucks.
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Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) and global carbon reduction company First Mode today announced a purchase order for Ballard to supply First Mode with 30 hydrogen fuel cell modules – totaling 3 megawatts – to power several hybrid hydrogen and battery ultra-class mining haul trucks. This is the equivalent of approximately 4,000 horsepower.
“Every one of the Ballard fuel cell modules that First Mode retrofits into an ultra-class haul truck means an immediate reduction in diesel fuel use and moving the mining industry another step closer to decarbonization,” said Julian Soles, First Mode CEO. “We’re excited to continue to innovate with Ballard. Utilizing hydrogen and battery technology in our nuGen™ systems allows our customers to achieve the best haul truck performance and range without sacrificing availability.”.
It opened the trading session at $5.515, the shares rose to $5.53 and dropped to $5.28, the range by which the price of stock traded the whole day. The daily chart for BLDP points out that the company has recorded -29.20% loss over the past six months. However, it is still -23.7% lower than its most recent low trading price.
If we look at the average trading volume of 2.75M shares, BLDP reached to a volume of 3396328 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ballard Power Systems Inc. [BLDP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLDP shares is $8.24 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLDP stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for Ballard Power Systems Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 06, 2023. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price to Market Perform. The new note on the price target was released on December 08, 2022, representing the official price target for Ballard Power Systems Inc. stock. Previously, the target price had yet another drop from $11 to $6.50, while TD Securities kept a Hold rating on BLDP stock.
The Average True Range (ATR) for Ballard Power Systems Inc. is set at 0.32, with the Price to Sales ratio for BLDP stock in the period of the last 12 months amounting to 17.04. The Price to Book ratio for the last quarter was 1.37, with the Price to Cash per share for the same quarter was set at 3.08.
Trading performance analysis for BLDP stock
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 -4.86. With this latest performance, BLDP shares dropped by -16.08% in over the last four-week period, additionally sinking by -29.20% over the last 6 months – not to mention a drop of -50.27% 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 39.63, with the RSI for the last a single of trading hit 33.99, and the three-weeks RSI is set at 43.22 for Ballard Power Systems Inc. [BLDP]. The present Moving Average for the last 50 days of trading for this stock 5.78, while it was recorded at 5.60 for the last single week of trading, and 6.50 for the last 200 days.
Ballard Power Systems Inc. [BLDP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Ballard Power Systems Inc. [BLDP] shares currently have an operating margin of -81.64 and a Gross Margin at +7.84. Ballard Power Systems Inc.’s Net Margin is presently recorded at -109.47.
Return on Equity for this stock declined to -10.15, with Return on Assets sitting at -9.36.
Ballard Power Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.60 and a Current Ratio set at 14.40.
Ballard Power Systems Inc. [BLDP]: An earnings per share (EPS) analysis
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%.
An analysis of insider ownership at Ballard Power Systems Inc. [BLDP]
There are presently around $452 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 8,730,831 shares of the stock with an approximate value of $47.84 million in BLDP stocks shares; and LEGAL & GENERAL GROUP PLC, currently with $23.31 million in BLDP stock with ownership of nearly 31.324% of the company’s market capitalization.
Positions in Ballard Power Systems Inc. stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 81 institutional holders increased their position in Ballard Power Systems Inc. [NASDAQ:BLDP] by around 11,520,058 shares. Additionally, 83 investors decreased positions by around 14,500,528 shares, while 55 investors held positions by with 56,549,238 shares. The mentioned changes placed institutional holdings at 82,569,824 shares, according to the latest SEC report filing. BLDP stock had 24 new institutional investments in for a total of 641,007 shares, while 31 institutional investors sold positions of 8,790,016 shares during the same period.