Is Ballard Power Systems Inc. (NASDAQ: BLDP) Proving The Doubters Wrong?


Marshall Wace LLP has recently announced that it has increased stake in Ballard Power Systems Inc. (NASDAQ:BLDP) by 81.31%. After grabbing 1.73 million shares, the institutional investor is now in possession of 0.77 million shares of the Industrials Company. The new investment brought the stake of investor firm to 0.71% having worth around $24.57 million. Moreover, Argenta Banque d’Epargne SA increased its share by 58182.0 to have a control over 1.01 million shares. And Morgan Stanley & Co. Internationa.. raised its holdings to 0.26 million shares by acquiring 1.01 million shares or 0.41% of the stake.

Ballard Power Systems Inc. (BLDP) concluded trading on 08/27/20 at a closing price of $15.82, with 3.78 million shares of worth about $59.82 million changed hands on the day. Weekly performance of the stock remained positive as price took a surge of 5.08% during that period and on Thursday the price saw a loss of about -0.13%. Currently the company’s common shares owned by public are about 243.77M shares, out of which, 174.87M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the BLDP stock and their offered price forecasts bring an average price target of $21.37. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $28.00 and could fall to a lowest price of $15.00. Analysts also issued an outlook of 2.10 for the Ballard Power Systems Inc. stock for next 12 months. The stock’s current price level is 25.76% above of average price target set by the analysts, while a rise to estimated low would result in loss of -5.47 for the stock. However, touching the estimated high of $28.00 would mean a gain of 43.5% for the stock.

CI First Asset Morningstar Canada, SMDAM Global EV Related Equity Mo, and Argenta Fund – Responsible Utilit are the top 3 mutual funds which are holding stakes in Ballard Power Systems Inc. CI First Asset Morningstar Canada is currently holding 1.76 million shares of worth totaling $25.03 million. The company recently came selling 67539.0 shares which brought its stake up to 0.72% of the company’s outstanding shares. SMDAM Global EV Related Equity Mo bought 0.19 million shares, after which its hold over company’s outstanding shares expand to 0.63%, leaving 1.53 million shares with the mutual fund that have a worth of about $21.8 million. Argenta Fund – Responsible Utilit, after buying 1.01 million shares, have now control over 0.42% of the stake in the company. It holds 58182.0 shares of worth $14.36 million.

Ballard Power Systems Inc. (NASDAQ: BLDP) started trading at $16.07, above $0.23 from concluding price of the previous day. However, the stock finished the trading on the day at a closing price of $15.82, or with a loss of -0.13%. Stock saw a price change of 5.08% in past 5 days and over the past one month there was a price change of 6.32%. Year-to-date (YTD), BLDP shares are showing a performance of 120.33% which increased to 253.91% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.25 but also hit the highest price of $21.61 during that period. While comparing its average daily trading volume of 4.12 million shares, we see that about 3.78 million changed hands on the day. The stock is currently trading 4.37% above its 20-day simple moving average (SMA20), while that difference is down -2.23% for SMA50 and it goes to 44.34% higher than SMA200.

Marshall Wace LLP acquired 1.73 million shares of Ballard Power Systems Inc. having value of about $24.57 million. Data submitted at the U.S SEC by Marshall Wace LLP revealed that the firm now holds 0.77 million shares in the company valued at close to $12259250.22, or have control over 81.31% stake in the company. Ballard Power Systems Inc. (NASDAQ: BLDP) currently have 243.77M outstanding shares and institutions hold larger chunk of about 16.40% of that. Holding of mutual funds in the company is about 3.27% while other institutional holders and individual stake holders have control over 6.50% and — of the stake respectively.

The stock has a current market capitalization of $3.58B and its 3Y-monthly beta is at 1.59. It has posted earnings per share of -$0.19 in the same period. It has Quick Ratio of 3.90 while making debt-to-equity ratio of 0.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BLDP, volatility over the week remained 6.11% while standing at 6.39% over the month.

Analysts are in expectations that Ballard Power Systems Inc. (BLDP) stock would likely to be making an EPS of $Builders FirstSource, Inc. in the current quarter, while forecast for next quarter ESPS is $30.24 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $TopBuild Corp. which is $Cohen & Steers Limited Duration at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $BLUE SPHERE CORP in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -14.10% while it is estimated to increase by 35.30% in next year. EPS is likely to shrink at an annualized rate of 0.03% for next 5-years, compared to annual growth of 5.40% made by the stock over the past 5-years.

Analysts at 9 brokerage firms have issued recommendations for the Ballard Power Systems Inc. (BLDP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 9 Wall Street analysts, 5 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Bernstein on August 24, 2020 offering an Outperform rating for the stock and assigned a target price of $22 to it. Coverage by National Bank Financial stated Ballard Power Systems Inc. (BLDP) stock as an Outperform in their note to investors on August 20, 2020, suggesting a price target of for the stock. On August 17, 2020, TD Securities Upgrade their recommendations, while on August 07, 2020, Lake Street Reiterated their ratings for the stock with a price target of $20. Stock get a Buy rating from ROTH Capital on June 29, 2020.


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