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

Ballard Power Systems Inc. (NASDAQ:BLDP) (TSE:BLD) saw a significant growth in short interest in 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 trading volume of 8,210,000 shares, the short-interest ratio is currently 2.1 days. Currently, 7.2% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Two Sigma Advisers LP raised its holdings in shares of Ballard Power Systems by 104.6% in the fourth quarter. Two Sigma Advisers LP now owns 975,100 shares of the technology company’s stock worth $1,619,000 after buying an additional 498,600 shares during the period. Two Sigma Investments LP grew its position in Ballard Power Systems by 58.4% in the 4th quarter. Two Sigma Investments LP now owns 1,793,296 shares of the technology company’s stock valued at $2,977,000 after acquiring an additional 661,413 shares during the last quarter. Tidal Investments LLC increased its stake in Ballard Power Systems by 51.3% in the fourth quarter. Tidal Investments LLC now owns 400,533 shares of the technology company’s stock worth $665,000 after purchasing an additional 135,752 shares during the period. State of Wyoming lifted its position in shares of Ballard Power Systems by 457.8% during the fourth quarter. State of Wyoming now owns 162,573 shares of the technology company’s stock worth $270,000 after purchasing an additional 133,430 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Ballard Power Systems by 181.5% during the fourth quarter. Toronto Dominion Bank now owns 78,628 shares of the technology company’s stock valued at $131,000 after purchasing an additional 50,695 shares during the period. Hedge funds and other institutional investors own 28.02% of the company’s stock.

Wall Street Analysts Forecast Growth

BLDP has been the topic of several research analyst reports. CIBC decreased their price target on shares of Ballard Power Systems from $1.40 to $1.20 and set an “underperformer” rating on the stock in a research note on Wednesday, December 4th. Hsbc Global Res downgraded Ballard Power Systems from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 6th. TD Cowen upgraded Ballard Power Systems to a “strong sell” rating in a report on Monday, January 13th. HSBC downgraded Ballard Power Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, StockNews.com upgraded Ballard Power Systems to a “sell” rating in a research report on Friday, November 1st. Seven equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $2.77.

Ballard Power Systems Price Performance

Ballard Power Systems stock opened at $1.47 on Tuesday. Ballard Power Systems has a 12-month low of $1.23 and a 12-month high of $3.38. The company has a current ratio of 9.01, a quick ratio of 8.19 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $1.57 and a 200-day moving average price of $1.63. The firm has a market capitalization of $440.18 million, a PE ratio of -1.34 and a beta of 1.69.

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.