Ballard Power Systems Inc. (NASDAQ: BLDP) stock fell -5.23% on Monday to $3.99 against a previous-day closing price of $4.21. With 1.23 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.73 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $4.2300 whereas the lowest price it dropped to was $3.9800. The 52-week range on BLDP shows that it touched its highest point at $7.39 and its lowest point at $3.90 during that stretch. It currently has a 1-year price target of $6.23. Beta for the stock currently stands at 1.87.
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 down-trending over the past week, with a drop of -1.72%, but this was down by -5.00% over a month. Three-month performance dropped to -12.88% while six-month performance fell -19.72%. The stock lost -46.23% in the past year, while it has lost -16.70% so far this year. A look at the trailing 12-month EPS for BLDP yields -0.47 with Next year EPS estimates of -0.52. For the next quarter, that number is -0.13. This implies an EPS growth rate of -50.20% for this year and -8.50% 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 -66.40%.
Float and Shares Shorts:
At present, 298.68 million BLDP shares are outstanding with a float of 252.20 million shares on hand for trading. On Aug 30, 2023, short shares totaled 26.67 million, which was 8.93% higher than short shares on Jul 30, 2023. 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.
Through their ownership of 32.21% of BLDP’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 24.08% of BLDP, in contrast to 1.81% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in BLDP with 2.17% of the stake, The Vanguard Group, Inc. holds 6,465,554 shares worth 6,465,554. A second-largest stockholder of BLDP, Legal & General Investment Manage, holds 5,843,287 shares, controlling over 1.96% of the firm’s shares. Norges Bank Investment Management is the third largest shareholder in BLDP, holding 3,754,465 shares or 1.26% stake. With a 1.88% stake in BLDP, the L&G Hydrogen Economy UCITS ETF is the largest stakeholder. A total of 5,624,375 shares are owned by the mutual fund manager. The iShares II Plc – Global Clean Ene, which owns about 1.30% of BLDP stock, is the second-largest Mutual Fund holder. It holds 3,881,702 shares valued at 16.3 million. Government Pension Fund – Global holds 1.26% of the stake in BLDP, owning 3,754,152 shares worth 15.77 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BLDP reported revenue of $20.93M and operating income of -$40.26M. The EBITDA in the recently reported quarter was -$38.48M and diluted EPS was -$0.19.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLDP since 0 analysts follow the stock currently. 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 $15.00 and a low target of $3.00, the average target price over the next 12 months is $6.08. Based on these targets, BLDP could surge 275.94% to reach the target high and fall by -24.81% to reach the target low. Reaching the average price target will result in a growth of 52.38% 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.