Updated from 12 p.m. on share reversal.
NEW YORK (TheStreet) -- The alternative fuel sector was setting up for another day of robust gains on Tuesday, but the tides turned for three of the heavy-volume stock plays around mid-session.
Fuel-cell maker Plug Power (PLUG) began to dive just after midday, after following Ballard Power Systems (BLDP), ZBB Energy (ZBB) and FuelCell Energy (FCEL) higher for much of the session. Shortly after, FuelCell and Ballard Power Systems tumbled.
The industry was celebrating a days-long rally in the sector, extended by an above-consensus first-quarter report from FuelCell after the bell Monday.
Danbury, Conn.-based FuelCell posted first-quarter revenue 22% higher to $44.4 million. The company reported an adjusted loss of $9 million, or 4 cents a share, compared with a loss of $12.5 million, or 7 cents a share, in the year-ago period.
Product sales grew nearly 19% to $34.5 million and advanced technologies contracts more than doubled to $5 million on higher engagement with the U.S. Department of Energy Solid State Energy Conversion Alliance (SECA).
Analysts surveyed by Thomson Reuters had anticipated a net loss of 4 cents a share and revenue of $43.4 million.
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