Why Fuel Cell Stocks Moved Lower Today
Fuel cell company Ballard Power Systems (NASDAQ: BLDP) suffered three times as many price target cuts as hikes post-earnings today, as reductions at Piper Sandler, Citigroup, and BMO Capital outweighed a hike at Lake Street, reports TheFly.com.
The more negative sentiment among analysts appears to be weighing on the whole fuel cell sector as a result, with shares of not just Ballard declining today (down a fraction of a percent in 3:10 p.m. EST trading), but Bloom Energy (NYSE: BE) and Plug Power (NASDAQ: PLUG) also falling -- down 2.1% and 2.8%, respectively.
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Source Fool.com
