At the time of writing, Ballard Power Systems Inc. [BLDP] stock is trading at $2.85, up 3.64%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The BLDP shares have gain 2.15% over the last week, with a monthly amount drifted -8.36%, and not seem to be holding up well over a long-time horizon.
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On 14, March 2024, Ballard announces $40 million in DOE grants to support build-out of industry-leading integrated fuel cell production Gigafactory in Rockwall, Texas. In a post published today on Yahoo Finance, Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) announced it has received notification from the Hydrogen and Fuel Cell Technologies Office within the U.S. Department of Energy (DOE) that Ballard’s applications for two grants totaling US$40 million under the Clean Hydrogen Electrolysis, Manufacturing, and Recycling Program have been selected and recommended for negotiation of financial awards. The grants will support Ballard’s construction and build-out of an integrated fuel cell production Gigafactory based in Rockwall, Texas.
From an analyst’s perspective:
Ballard Power Systems Inc. [NASDAQ: BLDP] stock has seen the most recent analyst activity on October 24, 2023, when HSBC Securities upgraded its rating to a Buy but kept the price target unchanged to $4.50 for it. Previously, HSBC Securities started tracking the stock with Hold rating on September 25, 2023, and set its price target to $4.50. On July 05, 2023, Citigroup initiated with a Neutral rating. B. Riley Securities downgraded its rating to a Neutral and decreased its price target to $5 on June 27, 2023. BMO Capital Markets downgraded its rating to a Underperform and reduced its price target to $4.25 on June 14, 2023. Scotiabank started tracking with a Sector Perform rating for this stock on March 10, 2023, and assigned it a price target of $7.25. In a note dated January 06, 2023, Wells Fargo downgraded an Underweight rating on this stock.
For the past year, the stock price of Ballard Power Systems Inc. fluctuated between $2.66 and $5.70. Currently, Wall Street analysts expect the stock to reach $11.3 within the next 12 months. Ballard Power Systems Inc. [NASDAQ: BLDP] shares were valued at $2.85 at the most recent close of the market. An investor can expect a potential return of 296.49% based on the average BLDP price forecast.
Analyzing the BLDP fundamentals
According to Ballard Power Systems Inc. [NASDAQ:BLDP], the company’s sales were 102.37M for trailing twelve months, which represents an 125.47% jump. Gross Profit Margin for this corporation currently stands at -0.23% with Operating Profit Margin at -1.58%, Pretax Profit Margin comes in at -1.35%, and Net Profit Margin reading is -1.64%. To continue investigating profitability, this company’s Return on Assets is posted at -0.16, Equity is -0.16 and Total Capital is -0.16. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.02.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.71 points at the first support level, and at 2.57 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.94, and for the 2nd resistance point, it is at 3.03.
Ballard Power Systems Inc. [BLDP] reported earnings per share of -$0.16 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of -$0.13/share, meaning a difference of -$0.03 and a surprise factor of -23.10%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.21 per share as compared to estimates of -$0.13 per share, a difference of -$0.08 representing a surprise of -61.50%.
Ratios To Look Out For
It is important to note that Ballard Power Systems Inc. [NASDAQ:BLDP] has a current ratio of 12.25. As well, the Quick Ratio is 11.60, while the Cash Ratio is 10.64. Considering the valuation of this stock, the price to sales ratio is 8.33, the price to book ratio is 0.86.
