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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) was the recipient of a large growth in short interest during the month of 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. Approximately 7.2% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. StockNews.com raised Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Hsbc Global Res cut Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. HSBC lowered shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. CIBC cut 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 research report on Wednesday, December 4th. Finally, TD Cowen upgraded shares of Ballard Power Systems to a “strong sell” rating in a research report on Monday, January 13th. Seven research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Ballard Power Systems has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Price Performance

Shares of NASDAQ:BLDP opened at $1.47 on Friday. Ballard Power Systems has a 12 month low of $1.23 and a 12 month high of $3.38. 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 business has a 50-day moving average of $1.57 and a two-hundred day moving average of $1.64.

Institutional Trading of Ballard Power Systems

A number of institutional investors and hedge funds have recently bought and sold shares of BLDP. Portolan Capital Management LLC purchased a new stake in Ballard Power Systems during the fourth quarter worth approximately $2,508,000. Jane Street Group LLC increased its holdings in Ballard Power Systems by 137.6% in the 3rd quarter. Jane Street Group LLC now owns 1,115,742 shares of the technology company’s stock valued at $2,008,000 after purchasing an additional 646,219 shares in the last quarter. Van ECK Associates Corp raised its position in Ballard Power Systems by 35.4% in the fourth quarter. Van ECK Associates Corp now owns 2,466,084 shares of the technology company’s stock valued at $4,094,000 after purchasing an additional 644,861 shares during the period. XTX Topco Ltd lifted its stake in shares of Ballard Power Systems by 494.0% during the fourth quarter. XTX Topco Ltd now owns 523,941 shares of the technology company’s stock worth $870,000 after purchasing an additional 435,729 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Ballard Power Systems by 71.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,020,801 shares of the technology company’s stock worth $1,695,000 after buying an additional 425,374 shares during the period. Institutional investors and hedge funds own 28.02% of the company’s stock.

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.