Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Update

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 13,770,000 shares, a decrease of 5.1% from the October 15th total of 14,510,000 shares. Based on an average trading volume of 3,220,000 shares, the days-to-cover ratio is currently 4.3 days. Currently, 5.6% of the company’s shares are sold short.

Analyst Ratings Changes

Several research analysts recently commented on BLDP shares. Jefferies Financial Group reduced their price target on shares of Ballard Power Systems from $3.25 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Cormark restated a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Wells Fargo & Company lowered their target price on Ballard Power Systems from $3.00 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, August 13th. Raymond James decreased their price objective on Ballard Power Systems from $4.00 to $3.00 and set a “market perform” rating for the company in a report on Wednesday, August 14th. Finally, StockNews.com upgraded shares of Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $2.78.

Institutional Trading of Ballard Power Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank raised its position in Ballard Power Systems by 182.8% during the first quarter. Toronto Dominion Bank now owns 34,460 shares of the technology company’s stock worth $96,000 after acquiring an additional 22,273 shares during the period. BNP Paribas Financial Markets raised its position in shares of Ballard Power Systems by 4.1% during the 1st quarter. BNP Paribas Financial Markets now owns 215,970 shares of the technology company’s stock worth $600,000 after purchasing an additional 8,549 shares during the last quarter. Tidal Investments LLC purchased a new position in Ballard Power Systems in the 1st quarter valued at about $39,000. Van ECK Associates Corp boosted its holdings in Ballard Power Systems by 8.8% in the 2nd 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 during the last quarter. Finally, SG Americas Securities LLC increased its stake in Ballard Power Systems by 84.3% during the 2nd quarter. SG Americas Securities LLC now owns 79,517 shares of the technology company’s stock worth $179,000 after buying an additional 36,368 shares in the last quarter. 28.02% of the stock is currently owned by hedge funds and other institutional investors.

Ballard Power Systems Stock Up 0.8 %

BLDP stock opened at $1.28 on Monday. Ballard Power Systems has a one year low of $1.23 and a one year high of $4.02. 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 firm’s fifty day moving average is $1.62 and its 200 day moving average is $2.15. The firm has a market cap of $383.26 million, a PE ratio of -1.16 and a beta of 1.78.

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.