Ballard Power’s stock swings to a gain after order for nearly 100 hydrogen fuel cell engines for use in Europe

Shares of Ballard Power Systems Inc.
BLDP,
-3.31%
turned higher Tuesday, and was up 1.5% in premarket trading, after the fuel cell company said it won orders for a total of 96 hydrogen fuel cell engines from Solaris Bus & Coach. Ballard’s stock was down 1.9% just before the orders were announced. Ballard said it expects initial deliveries of the engines to start in late 2023, with most being delivered through 2024. The orders include 52 fuel cell engines to power buses deployed for public transport in Germany, and 44 engines to power Solaris buses in European cities. Ballard’s stock has gained 1.7% over the past three months through Monday, while the S&P 500
SPX,
+0.90%
has advanced 9.2%.