Short Interest in Ballard Power Systems Inc. (NASDAQ:BLDP) Expands By 15.0%

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 14,580,000 shares, an increase of 15.0% from the November 30th total of 12,680,000 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,810,000 shares, the short-interest ratio is currently 3.0 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BLDP. Susquehanna dropped their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Wednesday, October 16th. CIBC dropped their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating for the company in a research note on Wednesday, December 4th. Cormark reiterated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Citigroup decreased their price objective on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Finally, Hsbc Global Res cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $2.77.

Ballard Power Systems Stock Down 1.2 %

Ballard Power Systems stock traded down $0.02 during trading hours on Monday, reaching $1.67. The stock had a trading volume of 9,600,662 shares, compared to its average volume of 3,373,578. Ballard Power Systems has a 52 week low of $1.23 and a 52 week high of $3.79. The company has a market cap of $500.03 million, a price-to-earnings ratio of -1.52 and a beta of 1.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. The business’s 50 day moving average price is $1.52 and its 200-day moving average price is $1.84.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BLDP. Van ECK Associates Corp lifted its position in Ballard Power Systems by 8.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company’s stock worth $5,224,000 after acquiring an additional 186,833 shares during the period. TD Asset Management Inc raised its stake in shares of Ballard Power Systems by 1.2% in the second quarter. TD Asset Management Inc now owns 707,953 shares of the technology company’s stock worth $1,599,000 after purchasing an additional 8,154 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Ballard Power Systems by 149.7% during the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after purchasing an additional 14,415 shares during the period. Hsbc Holdings PLC boosted its position in Ballard Power Systems by 76.6% in the second quarter. Hsbc Holdings PLC now owns 116,616 shares of the technology company’s stock valued at $263,000 after buying an additional 50,592 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in Ballard Power Systems in the 2nd quarter worth approximately $154,000. 28.02% of the stock is owned by institutional investors and hedge funds.

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.