Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Down 5.4% in November

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a significant decline in short interest during the month of November. As of November 30th, there was short interest totalling 12,680,000 shares, a decline of 5.4% from the November 15th total of 13,410,000 shares. Approximately 5.2% of the shares of the company are sold short. Based on an average daily trading volume, of 4,120,000 shares, the days-to-cover ratio is presently 3.1 days.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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. Citigroup decreased 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 research report on Monday, September 30th. StockNews.com raised shares of Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Susquehanna decreased their target price on Ballard Power Systems from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, October 16th. Finally, HSBC cut Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Ballard Power Systems currently has a consensus rating of “Hold” and a consensus price target of $2.77.

Ballard Power Systems Price Performance

Shares of Ballard Power Systems stock opened at $1.60 on Wednesday. The stock has a market capitalization of $479.07 million, a price-to-earnings ratio of -1.45 and a beta of 1.72. The firm’s 50-day moving average price is $1.52 and its two-hundred day moving average price is $1.91. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. Ballard Power Systems has a 1-year low of $1.23 and a 1-year high of $3.83.

Institutional Investors Weigh In On Ballard Power Systems

A number of large investors have recently bought and sold shares of the business. First Commonwealth Financial Corp PA bought a new position in Ballard Power Systems in the 3rd quarter valued at $27,000. Toronto Dominion Bank increased its stake in shares of Ballard Power Systems by 300.0% in the third quarter. Toronto Dominion Bank now owns 27,933 shares of the technology company’s stock valued at $50,000 after buying an additional 20,949 shares in the last quarter. Scientech Research LLC acquired a new stake in shares of Ballard Power Systems in the second quarter valued at $52,000. Daiwa Securities Group Inc. raised its holdings in shares of Ballard Power Systems by 149.7% in the second quarter. Daiwa Securities Group Inc. now owns 24,047 shares of the technology company’s stock valued at $54,000 after buying an additional 14,415 shares during the last quarter. Finally, MQS Management LLC acquired a new position in Ballard Power Systems during the 2nd quarter worth about $79,000. 28.02% of the stock is currently 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.