Handle With Care: Ballard Power Systems Inc. (NASDAQ: BLDP)

FIVE Stock
FIVE Stock

Marshall Wace LLP recently announced the acquisition of new stake in Ballard Power Systems Inc. (NASDAQ:BLDP). The institutional investor has increased its shareholding in the Industrials company by 81.31% to 1.73 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 0.71% valued currently at $24.57 million. In addition, Argenta Banque d’Epargne SA raised its holdings by 58182.0 to 1.01 million shares. And Morgan Stanley & Co. Internationa.. has lifted its position by 35.22% or 0.26 million shares – to 1.01 million shares.

With over 3.54 million Ballard Power Systems Inc. (BLDP) shares trading Monday and a closing price of $16.60 on the day, the dollar volume was approximately $58.81 million. The shares have shown a positive weekly performance of 0.67% and its price on 08/31/20 gained nearly 3.81%. Currently, there are 243.77M common shares owned by the public and among those 187.78M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for BLDP have a consensus price objective of $21.37. The analysts have set the share’s price value over the next 12 months at a high of $28.00 and a low of $15.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Ballard Power Systems Inc. stock is 2.10 for the next 12 months. The average price target is 22.1% above its last price level and an upside to the estimated low will see the stock lose -10.67% over that period. But an upside of 40.71% will see the stock hit the forecast high price target while mean target price for the stock is $20.00.

The top 3 mutual fund holders in Ballard Power Systems Inc. are CI First Asset Morningstar Canada, SMDAM Global EV Related Equity Mo, and Argenta Fund – Responsible Utilit. CI First Asset Morningstar Canada owns 1.76 million shares of the company’s stock, all valued at over $25.03 million. The company sold 67539.0 shares recently to bring their total holdings to about 0.72% of the shares outstanding. SMDAM Global EV Related Equity Mo bought 0.19 million shares to see its total holdings expand to 1.53 million shares valued at over $21.8 million and representing 0.63% of the shares outstanding. Argenta Fund – Responsible Utilit bought 58182.0 shares to bring its total holdings to over 1.01 million shares at a value of $14.36 million. Argenta Fund – Responsible Utilit now owns shares totaling to 0.42% of the shares outstanding.

Shares of Ballard Power Systems Inc. (NASDAQ: BLDP) opened at $16.23, up $0.24 from a prior closing price of $15.99. However, the script later closed the day at $16.60, up 3.81%. The company’s stock has a 5-day price change of 0.67% and 46.00% over the past three months. BLDP shares are trading 131.20% year to date (YTD), with the 12-month market performance up to 268.89% higher. It has a 12-month low price of $4.41 and touched a high of $21.61 over the same period. Currently, 3.54 million shares have been traded, compared to an average intraday trading volume of 4.15 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.43%, 2.07%, and 50.12% respectively.

Institutional ownership of Ballard Power Systems Inc. (NASDAQ: BLDP) shares accounts for 16.40% of the company’s 243.77M shares outstanding. Mutual fund holders own 3.14%, while other institutional holders and individual stakeholders account for 6.64% and — respectively.

It has a market capitalization of $4.01B and a beta (3y monthly) value of 1.59. The earnings-per-share (ttm) stands at -$0.19. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.72% over the week and 6.11% over the month.

Analysts forecast that Ballard Power Systems Inc. (BLDP) will achieve an EPS of -$0.05 for the current quarter, -$0.04 for the next quarter and -$0.12 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was -$0.04 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.10%, and 35.30% over the next financial year. EPS should shrink at an annualized rate of 0.03% over the next five years, compared to 5.40% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Ballard Power Systems Inc. (BLDP) as a “Moderate Buy” at a consensus score of 2.10. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the BLDP, a number of firms have released research notes about the stock. Bernstein stated their Outperform rating for the stock in a research note on August 24, 2020, with the firm’s price target at $22. National Bank Financial coverage for the Ballard Power Systems Inc. (BLDP) stock in a research note released on August 20, 2020 offered a Outperform rating with a price target of. TD Securities was of a view on August 17, 2020 that the stock is Speculative Buy, while Lake Street gave the stock Buy rating on August 07, 2020, issuing a price target of $13- $20. ROTH Capital on their part issued Buy rating on June 29, 2020.


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