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Why Ballard Power Systems (BLDP) Is Popping on Thursday

NEW YORK (TheStreet) -- Ballard Power Systems ((BLDP - Get Report)) is climbing on Thursday, pulled higher by a positive reaction to Plug Power's ((PLUG)) fourth-quarter earnings.

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.

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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.

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