Here's Why Ballard Power Systems Stock Is Moving

Ballard Power Systems Inc BLDP shares are trading lower by 4.94% to $5.39 Thursday morning. The stock is falling in sympathy will peer clean energy manufacturing and fuel cell power company Plug Power Inc after the company reported worse-than-expected fourth-quarter sales results.

What Happened?

Plug Power on Wednesday reported quarterly sales of $221.00 million which missed the analyst consensus estimate of $277.28 million by 20.3%. This sales figure is a 36.5% increase over sales of $161.91 million in the same period last year.

The company also reaffirmed its 2023 revenue guidance of $1.4 billion. The company anticipates gross margins of 10% in full-year 2023...Read More

According to data from Benzinga Pro, BLDP has a 52-week high of $12.57 and a 52-week low of $4.43.