Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) was the target of a large drop in short interest in the month of December. As of December 13th, there was short interest totalling 4,970,000 shares, a drop of 24.5% from the November 28th total of 6,580,000 shares. Based on an average daily volume of 1,490,000 shares, the days-to-cover ratio is currently 3.3 days. Currently, 3.1% of the company’s shares are sold short.
Several brokerages have recently commented on BLDP. Zacks Investment Research cut Ballard Power Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. HC Wainwright reissued a “hold” rating on shares of Ballard Power Systems in a research report on Tuesday, December 17th. BidaskClub raised shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 21st. Lake Street Capital raised their price objective on shares of Ballard Power Systems from $5.00 to $6.00 and gave the company an “in-line” rating in a research report on Friday, November 1st. Finally, ValuEngine downgraded shares of Ballard Power Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. Ballard Power Systems presently has a consensus rating of “Hold” and an average price target of $5.08.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Ballard Power Systems in the 2nd quarter valued at $41,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Ballard Power Systems by 60.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,405 shares of the technology company’s stock worth $56,000 after acquiring an additional 4,295 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Ballard Power Systems by 175.1% during the third quarter. Great West Life Assurance Co. Can now owns 27,279 shares of the technology company’s stock worth $133,000 after acquiring an additional 17,362 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Ballard Power Systems by 17.3% during the second quarter. Toronto Dominion Bank now owns 38,386 shares of the technology company’s stock worth $157,000 after acquiring an additional 5,649 shares in the last quarter. Finally, Virtu Financial LLC grew its stake in Ballard Power Systems by 75.5% in the third quarter. Virtu Financial LLC now owns 40,748 shares of the technology company’s stock valued at $199,000 after acquiring an additional 17,525 shares during the period. 4.35% of the stock is currently owned by institutional investors.
NASDAQ:BLDP traded down $0.19 during mid-day trading on Friday, hitting $7.81. 1,983,894 shares of the company’s stock traded hands, compared to its average volume of 1,124,161. The firm has a 50 day moving average of $6.75 and a two-hundred day moving average of $5.23. The company has a current ratio of 3.91, a quick ratio of 3.32 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -60.08 and a beta of 1.88. Ballard Power Systems has a 12 month low of $2.77 and a 12 month high of $8.02.
Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last posted its earnings results on Wednesday, October 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). The firm had revenue of $24.79 million during the quarter, compared to the consensus estimate of $25.60 million. Ballard Power Systems had a negative net margin of 43.31% and a negative return on equity of 12.74%. As a group, equities research analysts expect that Ballard Power Systems will post -0.16 earnings per share for the current year.
Ballard Power Systems Company Profile
Ballard Power Systems Inc engages in the design, development, manufacture, sale, and service of proton exchange membrane fuel cell products worldwide. The company offers heavy duty modules, fuel cell stacks, backup power systems, and portable power/ unmanned aerial vehicles, and material handling products.
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