The Vanguard Group, Inc. has recently announced that it has increased stake in Ballard Power Systems Inc. (NASDAQ:BLDP) by 1.27%. After grabbing 6.55 million shares, the institutional investor is now in possession of 82409.0 shares of the Industrials Company. The new investment brought the stake of investor firm to 2.19% having worth around $22.98 million. Moreover, Citadel Advisors LLC increased its share by 5.06 million to have a control over 5.06 million shares. And Global X Management Co. LLC raised its holdings to 0.78 million shares by acquiring 3.2 million shares or 1.07% of the stake.
Ballard Power Systems Inc. (BLDP) concluded trading on 01/10/24 at a closing price of $3.48, with 3.35 million shares of worth about $11.67 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -21.80% during that period and on Wednesday the price saw a loss of about -2.79%. Currently the company’s common shares owned by public are about 298.39M shares, out of which, 241.63M 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: 22 analysts are covering the BLDP stock and their offered price forecasts bring an average price target of $6.88. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $20.62 and could fall to a lowest price of $4.01. The stock’s current price level is 30.82% above of average price target set by the analysts, while a rise to estimated low would result in gain of 13.22% for the stock. However, touching the estimated high of $20.62 would mean a gain of 83.12% for the stock.
L&G Hydrogen Economy UCITS ETF, Government Pension Fund – Global, and Robeco Capital Gr. Fds. – RobecoS are the top 3 mutual funds which are holding stakes in Ballard Power Systems Inc. L&G Hydrogen Economy UCITS ETF is currently holding 5.84 million shares of worth totaling $20.49 million. The company recently came buying 0.0 shares which brought its stake up to 1.96% of the company’s outstanding shares. Government Pension Fund – Global bought 1.63 million shares, after which its hold over company’s outstanding shares expand to 1.26%, leaving 3.75 million shares with the mutual fund that have a worth of about $13.18 million. Robeco Capital Gr. Fds. – RobecoS, after selling 3.5 million shares, have now control over 1.17% of the stake in the company. It holds -0.1 million shares of worth $12.29 million.
Ballard Power Systems Inc. (NASDAQ: BLDP) started trading at $3.55, below -$0.03 from concluding price of the previous day. Stock saw a price change of -2.25% in past 5 days and over the past one month there was a price change of -4.66%. Year-to-date (YTD), BLDP shares are showing a performance of -5.95% which decreased to -37.18% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.12 but also hit the highest price of $7.10 during that period. The average intraday trading volume for Ballard Power Systems Inc. shares is 2.41 million. The stock is currently trading -4.84% below its 20-day simple moving average (SMA20), while that difference is down -2.58% for SMA50 and it goes to -16.13% lower than SMA200.
The Vanguard Group, Inc. acquired 6.55 million shares of Ballard Power Systems Inc. having value of about $22.98 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 82409.0 shares in the company valued at close to $286783.32, or have control over 1.27% stake in the company. Ballard Power Systems Inc. (NASDAQ: BLDP) currently have 298.39M outstanding shares and institutions hold larger chunk of about 24.76% of that. Holding of mutual funds in the company is about 2.95% while other institutional holders and individual stake holders have control over 22.57% and — of the stake respectively.
The stock has a current market capitalization of $1.04B and its 3Y-monthly beta is at 1.70. It has posted earnings per share of -$0.54 in the same period. It has Quick Ratio of 11.59 while making debt-to-equity ratio of 0.02. 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 4.31% while standing at 4.61% over the month.
Analysts are in expectations that Ballard Power Systems Inc. (BLDP) stock would likely to be making an EPS of -$0.13 in the current quarter, while forecast for next quarter EPS is -$0.13 and it is -$0.52 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.15 which is -$0.1 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 -$0.11 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.39% while it is estimated to increase by 8.56% in next year. EPS is likely to grow at an annualized rate of 0.03% for next 5-years, compared to annual growth of -63.38% made by the stock over the past 5-years.
Analysts at 22 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 2.95. Out of those 22 Wall Street analysts, 3 recommended a “Buy” rating, while 15 were in favor recommending the stock as a “Hold” and 3 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 HSBC Securities on October 24, 2023 offering a Buy rating for the stock and assigned a target price of $4.50 to it.
