Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Update

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 19,900,000 shares, a decline of 11.9% from the June 30th total of 22,590,000 shares. Based on an average daily volume of 2,570,000 shares, the days-to-cover ratio is currently 7.7 days. Approximately 8.2% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLDP. Endowment Wealth Management Inc. purchased a new position in Ballard Power Systems in the first quarter valued at $28,000. Headlands Technologies LLC purchased a new position in Ballard Power Systems in the fourth quarter valued at $31,000. Tidal Investments LLC purchased a new position in Ballard Power Systems in the first quarter valued at $39,000. Westwood Holdings Group Inc. purchased a new stake in shares of Ballard Power Systems during the first quarter worth about $59,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Ballard Power Systems by 75.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 24,315 shares of the technology company’s stock worth $90,000 after purchasing an additional 10,484 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Ballard Power Systems Stock Performance

NASDAQ BLDP traded down $0.06 on Monday, reaching $2.24. 2,022,522 shares of the company’s stock traded hands, compared to its average volume of 2,799,107. The firm has a market cap of $670.68 million, a price-to-earnings ratio of -3.61 and a beta of 1.77. The stock has a 50 day moving average price of $2.62 and a 200-day moving average price of $2.88. Ballard Power Systems has a fifty-two week low of $2.14 and a fifty-two week high of $5.11. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.88 and a current ratio of 11.66.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $14.50 million for the quarter, compared to analyst estimates of $17.55 million. Ballard Power Systems had a negative net margin of 177.82% and a negative return on equity of 15.37%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Equities research analysts predict that Ballard Power Systems will post -0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on BLDP. TD Securities lifted their price target on shares of Ballard Power Systems from $2.50 to $2.75 and gave the stock a “hold” rating in a report on Wednesday, May 8th. National Bankshares lowered their price objective on shares of Ballard Power Systems from $4.50 to $4.00 and set a “sector perform” rating for the company in a research note on Wednesday, May 8th. Jefferies Financial Group lowered their price objective on shares of Ballard Power Systems from $3.50 to $3.25 and set a “hold” rating for the company in a research note on Wednesday, May 8th. HSBC lowered their price objective on shares of Ballard Power Systems from $4.10 to $3.80 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Truist Financial reiterated a “hold” rating and set a $3.00 price objective (down from $3.50) on shares of Ballard Power Systems in a research note on Wednesday, May 8th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $3.49.

Ballard Power Systems Company Profile

Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers its products for power product comprising for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.