It’s understandable why traders are mauling Ballard Power Systems Inc. (BLDP)

Ballard Power Systems Inc. (NASDAQ:BLDP) is one of the stocks that are grabbing investor focus today: sinking -5.53% or (-0.26 points) to $4.42 from its previous close of $4.68. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 395963 contracts so far this session. BLDP shares had a relatively better volume day versus average trading capacity of 1.05 million shares, but with a 0.16 billion float and a 6.36% 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 $4.12 per share. This means the stock has a potential decrease of -6.79% from where the BLDP share price has been trading recently which is between $4.49 and $4.68. 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 running away from Ballard Power Systems Inc. (BLDP) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in BLDP shares. While short interest still represents only 3.93% of BLDP’s float, the number of shares shorted have fallen by -122145. The number of shares shorted fell to 6441420 shares, down from 6563565 shares during the preceding fortnight. With average daily trading volumes at 762400 shares, days to cover increased to about 6.955913 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Did Ballard Power Systems Inc. (TSE:BLDP) Insiders Sell Shares?” and dated August 09, 2019.

During the recent trading session for Ballard Power Systems Inc. (NASDAQ:BLDP), the company witnessed their stock rise $0.02 over a week and surge $0.41 from the price 20 days ago. When compared to their established 52-week high of $4.69, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 09/08/19. The recent low of $2.25 stood for a -5.74% 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 1.78 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 56.49. 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 82.62% 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 $4.74/share to $4.81/share level. However, if the stock price goes below the $4.55 mark, then the market for Ballard Power Systems Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $4.43 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. 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 ROTH Capital lowered their recommendation on shares of BLDP from Neutral to Sell in their opinion released on July 01. H.C. Wainwright analysts again handed out a Buy recommendation to Ballard Power Systems Inc. (NASDAQ:BLDP) stock but they lifted target price for the shares in a flash note issued to investors on September 15. The target price has been raised from $3 to $6. Analysts at ROTH Capital lowered the stock to a Neutral call from its previous Buy recommendation, in a research note that dated back to May 04.

BLDP equity has an average rating of 2.6, with the figure leaning towards a bullish end. 5 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 3 analysts rated Ballard Power Systems Inc. (NASDAQ:BLDP) as a buy or a strong buy while 1 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 6.36.

Ballard Power Systems Inc. (BLDP)’s current-quarter revenues are projected to climb by nearly 18.68% to hit $25.6 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.02% from $96.62 million to a noteworthy $96.6 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 0% to hit $-0.03 per share. For the fiscal year, BLDP’s earnings are projected to climb by roughly 0% to hit $-0.13 per share.