April 17, 2024

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Ballard Power Systems (BLDP) Gains But Lags Market: What You Should Know

In the latest trading session, Ballard Power Systems (BLDP) closed at $8, marking a +1.91% move from the previous day. The stock lagged the S&P 500’s daily gain of 6%. Meanwhile, the Dow gained 5.2%, and the Nasdaq, a tech-heavy index, added 6.23%.

Prior to today’s trading, shares of the fuel cell technology company had lost 30.9% over the past month. This has lagged the Computer and Technology sector’s loss of 29.17% and the S&P 500’s loss of 29.18% in that time.

Investors will be hoping for strength from BLDP as it approaches its next earnings release. In that report, analysts expect BLDP to post earnings of -$0.04 per share. This would mark no growth from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $26 million, up 62.5% from the year-ago period.

BLDP’s full-year Zacks Consensus Estimates are calling for earnings of -$0.12 per share and revenue of $133.80 million. These results would represent year-over-year changes of +25% and +25.83%, respectively.

It is also important to note the recent changes to analyst estimates for BLDP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.52% lower within the past month. BLDP is currently sporting a Zacks Rank of #3 (Hold).

The Electronics – Miscellaneous Components industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 39% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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