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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 14,580,000 shares, a growth of 15.0% from the November 30th total of 12,680,000 shares. Currently, 5.9% of the shares of the company are short sold. Based on an average daily volume of 4,810,000 shares, the short-interest ratio is presently 3.0 days.

Ballard Power Systems Price Performance

Ballard Power Systems stock traded down $0.02 during midday trading on Monday, reaching $1.67. The company had a trading volume of 9,600,662 shares, compared to its average volume of 3,373,578. The company has a debt-to-equity ratio of 0.03, a current ratio of 9.01 and a quick ratio of 8.19. Ballard Power Systems has a 12-month low of $1.23 and a 12-month high of $3.79. The company has a market capitalization of $500.03 million, a P/E ratio of -1.52 and a beta of 1.72. The firm’s fifty day simple moving average is $1.52 and its 200-day simple moving average is $1.84.

Hedge Funds Weigh In On Ballard Power Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC raised its stake 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 during the last quarter. XTX Topco Ltd boosted its stake in Ballard Power Systems by 29.0% during the 3rd quarter. XTX Topco Ltd now owns 88,212 shares of the technology company’s stock worth $159,000 after purchasing an additional 19,856 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of 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. Decade Renewable Partners LP acquired a new stake in shares of Ballard Power Systems in the second quarter valued at about $450,000. Finally, TD Asset Management Inc lifted its stake 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 buying an additional 8,154 shares in the last quarter. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLDP. Susquehanna reduced their price target on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating for the company in a research report on Wednesday, October 16th. Cormark reaffirmed a “market perform” rating on shares of Ballard Power Systems in a report on Monday, September 16th. Hsbc Global Res cut shares of Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Citigroup lowered their price target on shares of Ballard Power Systems from $3.50 to $2.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Finally, StockNews.com raised 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 assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.77.

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.