Short Interest in Ballard Power Systems Inc. (NASDAQ:BLDP) Rises By 10.3%

Ballard Power Systems Inc. (NASDAQ:BLDP - Get Free Report) TSE: BLD saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 17,640,000 shares, a growth of 10.3% from the January 15th total of 16,000,000 shares. Based on an average daily volume of 8,210,000 shares, the short-interest ratio is presently 2.1 days. Currently, 7.2% of the shares of the company are short sold.

Ballard Power Systems Trading Down 2.0 %

Shares of BLDP traded down $0.03 during trading hours on Wednesday, reaching $1.47. 5,082,720 shares of the company traded hands, compared to its average volume of 10,365,526. The firm has a market cap of $440.18 million, a price-to-earnings ratio of -1.34 and a beta of 1.69. The stock's fifty day moving average price is $1.56 and its 200 day moving average price is $1.62. Ballard Power Systems has a 12-month low of $1.23 and a 12-month high of $3.38. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen raised Ballard Power Systems to a "strong sell" rating in a research note on Monday, January 13th. StockNews.com raised shares of Ballard Power Systems to a "sell" rating in a report on Friday, November 1st. HSBC cut shares of Ballard Power Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. CIBC lowered their target price on shares of Ballard Power Systems from $1.40 to $1.20 and set an "underperformer" rating on the stock in a research note on Wednesday, December 4th. Finally, Hsbc Global Res lowered shares of Ballard Power Systems from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Seven analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Ballard Power Systems currently has a consensus rating of "Hold" and an average target price of $2.77.

Institutional Investors Weigh In On Ballard Power Systems

A number of institutional investors and hedge funds have recently bought and sold shares of BLDP. First Commonwealth Financial Corp PA bought a new position in shares of Ballard Power Systems during the 3rd quarter worth $27,000. Raymond James Financial Inc. bought a new position in Ballard Power Systems during the 4th quarter worth about $27,000. Toronto Dominion Bank increased its position in Ballard Power Systems by 300.0% during the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company's stock valued at $50,000 after purchasing an additional 20,949 shares during the period. Headlands Technologies LLC bought a new stake in shares of Ballard Power Systems in the 4th quarter valued at about $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Ballard Power Systems by 35.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company's stock worth $68,000 after purchasing an additional 10,767 shares during the period. 28.02% of the stock is owned by institutional investors.

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.