Does Ballard Power Systems Inc. (BLDP) offer a good opportunity for investors?

Ballard Power Systems Inc. (NASDAQ: BLDP) stock jumped 9.53% on Monday to $6.32 against a previous-day closing price of $5.77. With 3.54 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.41 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $6.34 whereas the lowest price it dropped to was $5.76. The 52-week range on BLDP shows that it touched its highest point at $12.57 and its lowest point at $4.43 during that stretch. It currently has a 1-year price target of $8.24. Beta for the stock currently stands at 1.81.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLDP was up-trending over the past week, with a rise of 4.81%, but this was up by 25.15% over a month. Three-month performance surged to 14.70% while six-month performance fell -9.46%. The stock lost -39.69% in the past year, while it has gained 31.94% so far this year. A look at the trailing 12-month EPS for BLDP yields -0.61 with Next year EPS estimates of -0.49. For the next quarter, that number is -0.14. This implies an EPS growth rate of -94.60% for this year and 16.70% for next year. EPS is expected to grow by 0.03% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.60%.

Float and Shares Shorts:

At present, 298.18 million BLDP shares are outstanding with a float of 251.77 million shares on hand for trading. On Oct 13, 2022, short shares totaled 29.55 million, which was 9.91% higher than short shares on Sep 14, 2022. In addition to Mr. R. Randall MacEwen as the firm’s CEO, Pres & Non-Independent Director, Mr. Paul Dobson serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 34.83% of BLDP’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 3.55% of BLDP, in contrast to 24.91% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in BLDP with 2.13% of the stake, The Vanguard Group, Inc. holds 6,348,556 shares worth 6,348,556. A second-largest stockholder of BLDP, Robeco Schweiz AG, holds 5,319,700 shares, controlling over 1.78% of the firm’s shares. Legal & General Investment Manage is the third largest shareholder in BLDP, holding 3,238,857 shares or 1.09% stake. With a 1.78% stake in BLDP, the iShares II Plc – Global Clean Ene is the largest stakeholder. A total of 5,317,876 shares are owned by the mutual fund manager. The iShares Global Clean Energy ETF, which owns about 1.53% of BLDP stock, is the second-largest Mutual Fund holder. It holds 4,570,057 shares valued at 21.89 million. L&G Hydrogen Economy UCITS ETF holds 1.33% of the stake in BLDP, owning 3,960,565 shares worth 18.97 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLDP since 25 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 3 suggest SELL ratings. Of the remaining analysts, 17 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLDP analysts setting a high price target of $19.00 and a low target of $4.00, the average target price over the next 12 months is $7.61. Based on these targets, BLDP could surge 200.63% to reach the target high and fall by -36.71% to reach the target low. Reaching the average price target will result in a growth of 20.41% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BLDP will report FY 2022 earnings on 03/11/2024. Analysts have provided yearly estimates in a range of -$0.52 being high and -$0.63 being low. For BLDP, this leads to a yearly average estimate of -$0.60. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Ballard Power Systems Inc. surprised analysts by -$0.00 when it reported -$0.14 EPS against a consensus estimate of -$0.14. The surprise factor in the prior quarter was -$0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.12 and the low estimate is -$0.16. The average estimate for the next quarter is thus -$0.14.

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