What is Ballard Power Systems Inc. (BLDP) Price Targets?

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Ballard Power Systems Inc. (NASDAQ:BLDP) saw an upside of 0.47% to $6.35 after adding $0.03 on Tuesday. The 5-day average trading volume is 2,754,774 shares of the company’s common stock. It has gained $6.46 in the past week and touched a new high 1 time within the past 5 days. An average of 2,994,744 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,141,121.

BLDP’s 1-month performance is 25.15% or $1.54 on its low of $4.43 reached on 12/28/22. The company’s shares have touched a 52-week low of $4.43 and high of $12.57, with the stock’s rally to the 52-week high happening on 01/18/23. YTD, BLDP has achieved 31.94% or $1.54 and has reached a new high 9 times. However, the current price is down -49.48% from the 52-week high price.

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Valuation Metrics

BLDP stock has a beta of 1.81. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 17.87 while the price-to-book (PB) in the most recent quarter is 1.58.

Ballard Power Systems Inc.’s quick ratio for the period ended September 29 was 13.60, with the current ratio over the same period at 14.40. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.01, while the total debt to equity was 0.01. In terms of profitability, the gross margin trailing 12 months is -2.40%. The firm’s gross profit as reported stood at $14.01 million against revenue of $104.5 million.

Earnings Surprise

For the quarterly period ending September 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Analysts expected BLDP to announce -$0.14 per share in earnings in its latest quarter, but it posted -$0.14, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$40.78 million. BLDP stock balance sheet for the quarter ending September 29 shows that total liabilities totaled 99.28 million, with total debt at $15.72 million.

Let’s look briefly at Ballard Power Systems Inc. (BLDP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 23 January was 66.45% to suggest the stock is trending Neutral, with historical volatility in this time period at 79.69%.

The stock’s 5-day moving average is $6.01, reflecting a +2.76% or $0.17 change from its current price. BLDP is currently trading +28.66% above its 20-day SMA, -18.22% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +23.15% and SMA200 by-43.28%.

Stochastic %K and %D was 82.51% and 72.08% and the average true range (ATR) pointed at 0.35. The RSI (14) points at 62.42%, while the 14-day stochastic is at 92.44% with the period’s ATR at 0.35. The stock’s 9-day MACD Oscillator is pointing at 0.15 and 0.39 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Ballard Power Systems Inc. (NASDAQ: BLDP), Wells Fargo downgraded it to an Underweight rating. They previously had an Equal weight rating on the stock.

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