Ballard Power Systems Inc. [NASDAQ: BLDP] traded at a low on 03/22/23, posting a -3.35 loss after which it closed the day’ session at $5.19. The company report on March 17, 2023 that Ballard Reports Q4 2022 Results.
Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the fourth quarter ended December 31, 2022. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).
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“With an increasingly constructive policy landscape for hydrogen globally, we are excited by the growing end customer interest to decarbonize mobility and stationary power applications with fuel cells,” said Randy MacEwen, President and CEO. “2022 proved to be an important year for Ballard as we achieved key customer platform wins across our verticals of bus, truck, rail and marine, along with early traction in select stationary power applications. This dynamic is supporting our planned transition of Ballard’s business model to a heavier focus on growing sales of Power Products and reduced relative contribution of Technology Solutions. Bolstered by strong order intake in Q4 in Europe and North America, we ended 2022 with an Order Backlog of $133.4 million, with Power Products up more than double from the end of 2021 and up almost 60% from the end of Q3.”.
The results of the trading session contributed to over 4314976 shares changing hands. Over the past one week, the price volatility of Ballard Power Systems Inc. stands at 6.53% while the volatility over the past one month is 5.48%.
The market cap for BLDP stock reached $1.60 billion, with 298.21 million shares outstanding and 251.77 million shares in the current float. Compared to the average trading volume of 2.76M shares, BLDP reached a trading volume of 4314976 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]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLDP shares is $8.23 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.
Scotiabank have made an estimate for Ballard Power Systems Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on March 10, 2023. The new note on the price target was released on January 06, 2023, representing the official price target for Ballard Power Systems Inc. stock. Previously, the target price had yet another raise to $5.50, while BMO Capital Markets analysts kept a Market Perform rating on BLDP stock. On November 08, 2022, analysts decreased their price target for BLDP shares from 11 to 6.50.
The Average True Range (ATR) for Ballard Power Systems Inc. is set at 0.33, with the Price to Sales ratio for BLDP stock in the period of the last 12 months amounting to 16.01. The Price to Book ratio for the last quarter was 1.33, with the Price to Cash per share for the same quarter was set at 2.97.
How has BLDP stock performed recently?
Ballard Power Systems Inc. [BLDP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.18. With this latest performance, BLDP shares dropped by -7.16% in over the last four-week period, additionally sinking by -23.79% over the last 6 months – not to mention a drop of -54.71% 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 42.33, with the RSI for the last a single of trading hit 42.48, and the three-weeks RSI is set at 43.44 for Ballard Power Systems Inc. [BLDP]. The present Moving Average for the last 50 days of trading for this stock 5.90, while it was recorded at 5.14 for the last single week of trading, and 6.38 for the last 200 days.
Ballard Power Systems Inc. [BLDP]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Ballard Power Systems Inc. [BLDP] shares currently have an operating margin of -178.86 and a Gross Margin at -25.80. Ballard Power Systems Inc.’s Net Margin is presently recorded at -207.07.
Return on Total Capital for BLDP is now -11.86, given the latest momentum, and Return on Invested Capital for the company is -13.77. Return on Equity for this stock declined to -13.91, with Return on Assets sitting at -12.87. When it comes to the capital structure of this company, Ballard Power Systems Inc. [BLDP] has a Total Debt to Total Equity ratio set at 1.36. Additionally, BLDP Total Debt to Total Capital is recorded at 1.34, with Total Debt to Total Assets ending up at 1.26. Long-Term Debt to Equity for the company is recorded at 1.02, with the Long-Term Debt to Total Capital now at 1.01.
Reflecting on the efficiency of the workforce at the company, Ballard Power Systems Inc. [BLDP] managed to generate an average of -$174,278 per employee. Receivables Turnover for the company is 1.75 with a Total Asset Turnover recorded at a value of 0.06.Ballard Power Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 13.30 and a Current Ratio set at 14.10.
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 $429 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 $45.31 million in BLDP stocks shares; and LEGAL & GENERAL GROUP PLC, currently with $22.07 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, 84 investors decreased positions by around 14,500,898 shares, while 55 investors held positions by with 56,550,218 shares. The mentioned changes placed institutional holdings at 82,571,174 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.