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.
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