Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Up 15.0% in December

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a large increase in short interest in 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. Based on an average daily volume of 4,810,000 shares, the short-interest ratio is presently 3.0 days. Currently, 5.9% of the shares of the stock are short sold.

Ballard Power Systems Trading Down 0.6 %

NASDAQ BLDP traded down $0.01 during mid-day trading on Tuesday, reaching $1.66. 10,775,127 shares of the stock were exchanged, compared to its average volume of 3,402,953. Ballard Power Systems has a one year low of $1.23 and a one year high of $3.79. The stock has a 50 day simple moving average of $1.52 and a 200-day simple moving average of $1.84. The stock has a market cap of $497.04 million, a P/E ratio of -1.51 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.

Wall Street Analyst Weigh In

Several 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 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. Citigroup reduced their price objective on Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $2.77.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. First Commonwealth Financial Corp PA acquired a new stake in Ballard Power Systems during the third quarter worth approximately $27,000. Scientech Research LLC bought a new position in shares of Ballard Power Systems during the 2nd quarter worth approximately $52,000. Daiwa Securities Group Inc. grew its position in shares of Ballard Power Systems by 149.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock worth $54,000 after buying an additional 14,415 shares during the period. Toronto Dominion Bank increased its stake in shares of Ballard Power Systems by 300.0% in the 3rd quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after acquiring an additional 20,949 shares in the last quarter. Finally, MQS Management LLC acquired a new position in shares of Ballard Power Systems during the 2nd quarter valued at $79,000. 28.02% of the stock is owned by institutional investors.

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.