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Wednesday, October 21, 2020

Is Now the Time to Invest in Ballard Power Systems Inc. (NASDAQ:BLDP)?

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Ballard Power Systems Inc. (BLDP) shares are trading at higher $18.82 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $21.38.

To add more color to this target, the company’s high over the last year is $21.61 and the low is $4.88. Over the last 52 weeks, BLDP is up 268.30% while the S&P 500 is up 18.28%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, BLDP reported a profit of $5.36 million. Ballard Power Systems Inc. also saw revenues increase to $25.82 million. In addition, BLDP has free cash flow of -$31.8 million as of 06-2020. The company’s EBITDA came in at -$7.05 million which compares well with its peers.

BLDP booked profit margins of -38.60%, its Return on Equity (ROE) is -16.50%, and its Return on Assets is -12.60%. All told, it is clear that, BLDP needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BLDP has a short ratio of 3.14 and outstanding shares of 243.77M.

Company Outlook

BLDP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 4.53 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.19. Ballard Power Systems Inc. BLDP also noted assets of $371.77 million at the end of the last quarter. Investors should also keep an eye on sector updates as BLDP has historically followed its peers on positive news.

All told, Ballard Power Systems Inc. BLDP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BLDP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Ballard Power Systems Inc. BLDP is now commanding a market cap of 4.60B and a float of 204.23M. BLDP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BLDP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in BLDP, either long or short, and we have not been compensated for this article.

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