No. It itself is not a ballast, but is attached to the ballast box of a recessed fixture. I have the spec sheet here and it's being described as a thermal protector. Wiring guide:

"The black lead wire is always connected to the input live wire. The white wire is the common which is permanently connected at the factory with an extra six inch piece of wire of the same color. The third wire of the [thermal protector] is permanently connected to the live side of the load."