Ballard Power Systems Inc (NASDAQ:BLDP) (TSE:BLD) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totalling 5,875,900 shares, a drop of 8.8% from the July 31st total of 6,441,400 shares. Currently, 3.7% of the shares of the stock are sold short. Based on an average daily volume of 933,200 shares, the short-interest ratio is presently 6.3 days.

BLDP has been the topic of several recent analyst reports. ValuEngine raised shares of Ballard Power Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday. BidaskClub upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Roth Capital cut shares of Ballard Power Systems from a “neutral” rating to a “sell” rating and set a $3.00 target price for the company. in a research report on Monday, July 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Ballard Power Systems from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $3.70.

Several hedge funds and other institutional investors have recently modified their holdings of BLDP. Candriam Luxembourg S.C.A. acquired a new stake in shares of Ballard Power Systems in the first quarter valued at about $33,000. Jane Street Group LLC acquired a new stake in shares of Ballard Power Systems in the second quarter valued at about $41,000. Millennium Management LLC acquired a new stake in shares of Ballard Power Systems in the fourth quarter valued at about $81,000. Toronto Dominion Bank raised its position in shares of Ballard Power Systems by 87.6% in the first quarter. Toronto Dominion Bank now owns 32,737 shares of the technology company’s stock valued at $99,000 after buying an additional 15,286 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Ballard Power Systems during the second quarter worth about $116,000. Institutional investors and hedge funds own 2.97% of the company’s stock.

Shares of NASDAQ BLDP traded up $0.38 during mid-day trading on Friday, reaching $5.50. The company’s stock had a trading volume of 1,822,589 shares, compared to its average volume of 882,622. The stock has a 50-day moving average of $4.41 and a two-hundred day moving average of $3.80. The stock has a market capitalization of $1.19 billion, a P/E ratio of -42.31 and a beta of 1.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.85 and a current ratio of 4.40. Ballard Power Systems has a 1-year low of $2.25 and a 1-year high of $5.18.

Ballard Power Systems (NASDAQ:BLDP) (TSE:BLD) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $23.70 million during the quarter, compared to analysts’ expectations of $22.42 million. Ballard Power Systems had a negative net margin of 40.67% and a negative return on equity of 13.15%. The company’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.02) earnings per share. Analysts predict that Ballard Power Systems will post -0.13 EPS for the current fiscal 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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