Why Ballard Power Systems Inc. (BLDP) Stock Dove Today

Stay Ahead of Wall Street. Find out what is happening to Ballard Power Systems Inc. (NASDAQ:BLDP) stock today? Its price is nose-diving -0.16 points, trading at $4.01 levels, and is down -3.75% from its previous close of $4.17. The shares seem to have an active trading volume day with a reported 415961 contracts so far this session. BLDP shares had a relatively better volume day versus average trading capacity of 858.48 thousand shares, but with a 0.16 billion float and a 5.3% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for BLDP stock indicates that the average analyst price target is $3.61 per share. This means the stock has a potential decrease of -9.98% from where the BLDP share price has been trading recently which is between $4.085 and $4.17. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $3.

The shorts are climbing into Ballard Power Systems Inc. (BLDP) stock. The latest set of short interest data was released on 31 May 2019, and the numbers show a rise in short interest in BLDP shares. While short interest still represents only 3.84% of BLDP’s float, the number of shares shorted have risen by 70333. The number of shares shorted advanced to 6324519 shares, up from 6254186 shares during the preceding fortnight. With average daily trading volumes at 1486372 shares, days to cover decreased to about 6.554239 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Plug Power (PLUG) Completes the Acquisition of EnergyOr” and dated June 12, 2019.

During the recent trading session for Ballard Power Systems Inc. (NASDAQ:BLDP), the company witnessed their stock rise $0.09 over a week and surge $0.45 from the price 20 days ago. When compared to their established 52-week high of $4.62, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/21/18. The recent low of $2.25 stood for a -13.12% since 12/24/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.83 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Ballard Power Systems Inc., the two-week RSI stands at 55.88. This figure suggests that BLDP stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current BLDP readings is similarly very revealing as it has a stochastic reading of 70.06% at this stage. This figure means that BLDP share price today is being oversold.

Technical chart claims that Ballard Power Systems Inc. (BLDP) would settle between $4.2/share to $4.23/share level. However, if the stock price goes below the $4.11 mark, then the market for Ballard Power Systems Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.06 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.13. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at H.C. Wainwright lifted target price for shares of BLDP but were stick to Buy recommendation for the stock in their opinion released on September 15. The price target has been raised from $3 to $6. ROTH Capital analysts have lowered their rating of Ballard Power Systems Inc. (NASDAQ:BLDP) stock from Buy to Neutral in a separate flash note issued to investors on May 04. Analysts at FBR & Co. are sticking to their Outperform stance. However, on May 03, they lifted price target for these shares to $3.50 from $3.

BLDP equity has an average rating of 2.4, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 2 rated the stock as a hold while the remaining 3 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 3 analysts rated Ballard Power Systems Inc. (NASDAQ:BLDP) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, BLDP stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 8.91 while for the average stock in the same group, the multiple is 6.44.

Ballard Power Systems Inc. (BLDP)’s current-quarter revenues are projected to climb by nearly -16.45% to hit $22.1 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.33% from $96.62 million to a noteworthy $96.3 million. At the other end of the current quarter income statement, Ballard Power Systems Inc. is expected to see its adjusted earnings surge by roughly -100% to hit $-0.04 per share. For the fiscal year, BLDP’s earnings are projected to climb by roughly -23.08% to hit $-0.16 per share.