Why KiOR Inc (KIOR) Plummeted on Thursday

NEW YORK (TheStreet) -- KiOR Inc (KIOR) plunged on Thursday after cancelling its scheduled release of fourth-quarter results.

By market close, shares had taken off 9.6% to $1.13.

The Pasadena, Texas-based company gave no reason for the cancellation but said it has deferred its release and conference call until its 10-K form has been filed with the SEC on or before March 17.

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Analysts surveyed by Thomson Reuters forecast a net loss of 39 cents a share and revenue of $1.5 million for its December-ended quarter. Over fiscal 2013, analysts predict a net loss of $1.46 a share and revenue of $2.62 million.

The renewable biodiesel developer has fallen through the week, in step with losses sustained by companies in the fuel-cell sector. The sell-off was sparked by Plug Power (PLUG) on Tuesday after Citron Research released a report which said the company would be fairly valued at 50 cents.

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