By late morning, shares had added 9% to $5.85. Trading volume of 17.8 million exceeded its three-month daily average of 11.8 million.
Ballard Power Systems has been moving in-step with the fuel cell sector throughout its rally this month and sell-off since Tuesday. The British Columbia, Canada-based business has a supplier agreement with Plug Power to supply GenDrive hydrogen fuel cell systems in North America and Europe.
WATCH: Bears Retreat as Plug Power Predicts Fourfold Growth in 2014 Before the bell Thursday, Plug Power reported adjusted net losses of 8 cents a share, in line with average forecasts compiled by Thomson Reuters. Revenue climbed 36% to $8 million, higher than estimates for $7.45 million. The sector, including Ballard, Plug, FuelCell (FCEL) and ZBB Energy (ZBB), plummeted on Tuesday after a report from Citron Research valued Plug Power at 50 cents, a blended average of recent capital raises. Ballard Power plummeted 25.9% in the sector sell-off. Must read: Warren Buffett's 10 Favorite Stocks STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV