Ballard Power Systems Inc. [NASDAQ: BLDP] loss -2.96% on the last trading session, reaching $2.79 price per share at the time. The company report on March 11, 2024 at 8:30 AM that Ballard Reports Q4 2023 Results.
Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the fourth quarter ended December 31, 2023. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS).
“Our transition to a commercial products company is gaining momentum, with growing market acceptance of our fuel cell engines across our verticals,” said Randy MacEwen, President and CEO. “We shipped a record number of fuel cell engines in the quarter, allowing us to close out the year with Q4 revenue of $46.8 million, up 132% year-over-year. We also booked $64.7 million of new orders in Q4, resulting in a product-based Order Backlog now 15% higher than the same period last year.”.
If compared to the average trading volume of 3.06M shares, BLDP reached a trading volume of 5327394 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 $4.59 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 2.95. 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.
HSBC Securities have made an estimate for Ballard Power Systems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 24, 2023. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Hold. The new note on the price target was released on September 25, 2023, representing the official price target for Ballard Power Systems Inc. stock. On June 27, 2023, analysts decreased their price target for BLDP shares from 6 to 5.
The Average True Range (ATR) for Ballard Power Systems Inc. is set at 0.17, with the Price to Sales ratio for BLDP stock in the period of the last 12 months amounting to 8.14. The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 2.52.
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 -13.89. With this latest performance, BLDP shares dropped by -16.22% in over the last four-week period, additionally sinking by -30.94% over the last 6 months – not to mention a drop of -47.36% 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 36.09, with the RSI for the last a single of trading hit 30.82, and the three-weeks RSI is set at 39.04 for Ballard Power Systems Inc. [BLDP]. The present Moving Average for the last 50 days of trading for this stock 3.23, while it was recorded at 3.04 for the last single week of trading, and 3.81 for the last 200 days.
Ballard Power Systems Inc. [BLDP]: A deeper dive into fundamental analysis
Ballard Power Systems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.60 and a Current Ratio set at 12.25.
Ballard Power Systems Inc. [BLDP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ballard Power Systems Inc. posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.40%. 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 Institutional ownership at Ballard Power Systems Inc. [BLDP]
The top three institutional holders of BLDP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BLDP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BLDP stock with ownership which is approximately 5.8325%.
