Stock analysts at H.C. Wainwright cut their rating on shares of Ballard Power Systems Inc. (NASDAQ:BLDP) from Buy to a new rating of Neutral in their opinion released on November 01. ROTH Capital analysts have downgraded their rating of BLDP shares from Neutral to Sell in a separate flash note to investors on July 01. Analysts at H.C. Wainwright are sticking to their Buy recommendation for the stock. However, on September 15, they lifted target price to $6 from the prior target set at $3. Analysts at H.C. Wainwright, made their first call for this company shares with a Buy rating, according to a research note that dated back to September 15.
For the period that ended January 15, 2020, the short interest in Ballard Power Systems Inc. (NASDAQ:BLDP) stock is on the up. The 41.07% rise could be an indication that investors and traders expect a drop in the share price, often as a result of a drop in the business’ fundamentals. The average brokerage opinion at 2.7 suggests acquiring these shares. Between December 31 and January 15, the total count of shorted shares totaled 6.95 million. That number was 2,023,872 more shares compared with the total of 4.93 million shares in the space of prior two weeks, which suggests more traders or funds are betting that the company stock will move down. The average daily volume for BLDP at the January 15th settlement surged to 3,832,819, versus 972,587 at the December 31st report. That led days to cover to move at 1.813702, a 64.2% decrease compared to the 5.066611 days to cover recorded at the prior short interest data release.
Ballard Power Systems Inc. (BLDP) is most likely going to rise -48.81 percent in the coming 12 months, as per price target approximations compiled by finviz. Nevertheless, they have set the price target at a $9.88 as 12-month high price target. This represents a whopping -6.17 percent increase from the current trading price of shares. The 52-week median price target given by the analysts is $4.63, which means a return possibility of -56.03 percent in comparison with the closing price of the stock of $10.53 in recent trading session. The lowest price set for the stock is $3 which is just above -71.51 percent from BLDP share’s price at the end of session.
The stock is lingering around the initial support level of $10.36. After this, the following support is at the zone of $10.08. Up until the time the BLDP stock hit levels beyond the current one, bulls should have no alarm. In terms of its momentum, the stock’s RSI hit 59.95 on the daily chart, and this may be a cause for concern. In case the price goes below $10.08 level on closing basis, there may be more profit booking with the stock growing weaker. Still, getting to the $10.9 level may cause a pull-back move approaching $11.16 mark.
In the recent trading session, Ballard Power Systems Inc. (NASDAQ:BLDP) shares lost -0.94% or -0.1 points to reach at $10.53 with a thin trading volume of 1.446 million shares. It opened the trading session at $10.72, the shares rose to $10.89 and dropped to $10.35, the range by which the price of stock traded the whole session. The company now has a market cap of $2.48 billion and currently has 233.74 million outstanding shares. Ballard Power Systems Inc. (BLDP) stock has accumulated 36.11 percent of market value in 21 trading days.
BLDP stock’s trailing 3-year beta is 1.82, meaning there will be a greater rate of return, although posing a higher risk. The part of a firm’s profit given to each outstanding share of regular stock was -$0.18 share in the trailing 52 weeks. The stock’s value surged 48.05 percent year to date (YTD) compared to a rise of 209.91 percent in 52 week’s period. The firm’s shares are still trading -13.19 percent below its 1-year high of $12.13 and 269.47 percent up from 52-week low of $2.85. The average consensus ranking on the company is 2.7, on a ranging where 5 is equal to a consensus sell rating. In other words, the mean analyst recommendations are ranking this stock as a sell.
Ballard Power Systems Inc. has a 22.7% gross profit margin, with its operating margin around -28%. Alongside this, the company’s net profit margin currently stands at -43.3%.
Past records have indicated that shares in Ballard Power Systems Inc. rose on 12 different earnings reaction days and we have yet to see whether this trend will play out and remain in place when the company reports upcoming earnings. Investors will get the next hint of BLDP’s Q4 earnings on February 26. Analysts are predicting revenue to climb 9.1 percent to $31.06M in the financial fourth quarter, while EPS will soar by about -33.33 percent to -$0.04 per share. In the last quarter, it’s earnings of -$0.03 per share came better than the -$0.05, adjusted, expected by Thomson Reuters consensus estimate. Revenue for the quarter was $28.5M, topping the $23.06M analysts had expected. Earnings are seen to rise by -222 percent this year, 25 percent in the coming year and the trend continues by 0.03 percent every year in the next 5 years.