Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD was the target of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 15,420,000 shares, a decline of 12.6% from the January 31st total of 17,640,000 shares. Currently, 6.3% of the shares of the company are short sold. Based on an average daily trading volume, of 8,840,000 shares, the days-to-cover ratio is currently 1.7 days.
Analyst Ratings Changes
BLDP has been the subject of several research reports. CIBC decreased their price objective on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating for the company in a report on Wednesday, December 4th. TD Cowen upgraded shares of Ballard Power Systems to a "strong sell" rating in a research note on Monday, January 13th. Seven analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Ballard Power Systems has an average rating of "Hold" and a consensus price target of $2.77.
Read Our Latest Research Report on BLDP
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. National Bank of Canada FI boosted its position in shares of Ballard Power Systems by 14.7% during the fourth quarter. National Bank of Canada FI now owns 72,342 shares of the technology company's stock worth $120,000 after acquiring an additional 9,287 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Ballard Power Systems by 35.9% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock valued at $68,000 after purchasing an additional 10,767 shares in the last quarter. Banque Cantonale Vaudoise grew its position in shares of Ballard Power Systems by 7.7% during the third quarter. Banque Cantonale Vaudoise now owns 190,433 shares of the technology company's stock valued at $343,000 after purchasing an additional 13,639 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in shares of Ballard Power Systems in the third quarter worth about $27,000. Finally, Itau Unibanco Holding S.A. lifted its position in shares of Ballard Power Systems by 44.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 49,511 shares of the technology company's stock worth $82,000 after buying an additional 15,160 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors.
Ballard Power Systems Price Performance
Shares of NASDAQ BLDP traded up $0.05 during midday trading on Friday, reaching $1.26. The stock had a trading volume of 5,863,668 shares, compared to its average volume of 10,487,995. The stock has a 50-day moving average of $1.48 and a 200-day moving average of $1.57. The company has a debt-to-equity ratio of 0.03, a quick ratio of 8.19 and a current ratio of 9.01. The company has a market capitalization of $377.29 million, a price-to-earnings ratio of -1.15 and a beta of 1.75. Ballard Power Systems has a 12-month low of $1.08 and a 12-month high of $3.38.
About Ballard Power Systems
(
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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.
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