Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Down 5.4% in November

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 12,680,000 shares, a drop of 5.4% from the November 15th total of 13,410,000 shares. Currently, 5.2% of the shares of the company are short sold. Based on an average daily volume of 4,120,000 shares, the days-to-cover ratio is presently 3.1 days.

Wall Street Analysts Forecast Growth

BLDP has been the subject of several research reports. Hsbc Global Res downgraded Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a report on Wednesday, November 6th. CIBC reduced their price objective on 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. StockNews.com upgraded shares of Ballard Power Systems to a "sell" rating in a research report on Friday, November 1st. Citigroup reduced their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a "neutral" rating for the company in a research report on Monday, September 30th. Finally, Susquehanna lowered their price objective on shares of Ballard Power Systems from $2.00 to $1.50 and set a "neutral" rating on the stock in a research report on Wednesday, October 16th. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.77.

Institutional Investors Weigh In On Ballard Power Systems

Several institutional investors have recently modified their holdings of BLDP. SG Americas Securities LLC lifted its holdings in shares of Ballard Power Systems by 84.3% in the second quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company's stock valued at $179,000 after purchasing an additional 36,368 shares in the last quarter. Van ECK Associates Corp increased its position in Ballard Power Systems by 8.8% during the second quarter. Van ECK Associates Corp now owns 2,321,782 shares of the technology company's stock worth $5,224,000 after buying an additional 186,833 shares in the last quarter. TD Asset Management Inc raised its holdings 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 acquiring an additional 8,154 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company's stock valued at $54,000 after acquiring an additional 14,415 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Ballard Power Systems by 76.6% during the second quarter. Hsbc Holdings PLC now owns 116,616 shares of the technology company's stock valued at $263,000 after acquiring an additional 50,592 shares during the last quarter. Hedge funds and other institutional investors own 28.02% of the company's stock.

Ballard Power Systems Stock Performance

Ballard Power Systems stock remained flat at $1.60 during midday trading on Tuesday. The company's stock had a trading volume of 5,572,021 shares, compared to its average volume of 3,186,836. The company has a market capitalization of $479.07 million, a price-to-earnings ratio of -1.45 and a beta of 1.72. Ballard Power Systems has a 12 month low of $1.23 and a 12 month high of $3.83. The company's fifty day simple moving average is $1.52 and its 200 day simple moving average is $1.92. The company has a quick ratio of 8.19, a current ratio of 9.01 and a debt-to-equity ratio of 0.03.

About Ballard Power Systems

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.