Why Ballard Power Systems (BLDP) Is Down Today (Update)

Update (4:15 p.m.): Updated with Wednesday market close information.

NEW YORK (TheStreet) -- Ballard Power Systems  (BLDP) plunged more than 22% to a low of $4.15 on Wednesday as Plug Power  (PLUG) led the volatile fuel-cell sector down again.

The stock closed down 22.96% to $4.16, which was $1.26 less than its previous closing price of $5.40.

Plug Power soared 49%, its best daily percentage increase since early January, on Tuesday, but the stock plummeted again on Wednesday. It fell 23.94% to $6.45, down $2.03 from its previous close of $8.48, and hit a low of $6.26 for the day.

Ballard provides fuel cell stacks to Plug Power for its more than 2,800 GenDrive Systems.

FuelCell Energy  (FCEL) also dropped to a low of $2.38 for the day and closed down 17.53% to $2.40, 51 cents less than its previous close of $2.91.

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TheStreet Ratings team rates BALLARD POWER SYSTEMS INC as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:

"We rate BALLARD POWER SYSTEMS INC (BLDP) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been weak operating cash flow."

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