Ballard Power Systems Inc. (NASDAQ:BLDP) Short Interest Up 10.3% in January

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 17,640,000 shares, an increase 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 days-to-cover ratio is presently 2.1 days. Approximately 7.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BLDP. First Commonwealth Financial Corp PA acquired a new stake in shares of Ballard Power Systems during the 3rd quarter valued at $27,000. Raymond James Financial Inc. bought a new stake in Ballard Power Systems during the 4th quarter worth approximately $27,000. Toronto Dominion Bank raised its stake in shares of Ballard Power Systems by 300.0% during the third 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 during the last quarter. Headlands Technologies LLC acquired a new position in shares of Ballard Power Systems during the fourth quarter worth $52,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of Ballard Power Systems by 35.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 40,798 shares of the technology company’s stock worth $68,000 after purchasing an additional 10,767 shares during the last quarter. Institutional investors own 28.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BLDP. HSBC cut Ballard Power Systems from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. CIBC decreased their target price on Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a report on Wednesday, December 4th. StockNews.com raised Ballard Power Systems to a “sell” rating in a report on Friday, November 1st. 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. Finally, TD Cowen raised shares of Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. Seven investment 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 MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Price Performance

NASDAQ:BLDP traded down $0.02 during mid-day trading on Monday, reaching $1.47. The stock had a trading volume of 8,477,482 shares, compared to its average volume of 9,204,465. 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 $3.38. The stock has a market capitalization of $440.18 million, a PE ratio of -1.34 and a beta of 1.69. The stock has a 50-day simple moving average of $1.57 and a two-hundred day simple moving average of $1.63.

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.