Today’s Research Reports on Trending Tickers: Plug Power and FuelCell Energy

NEW YORK, NY / ACCESSWIRE / February 13, 2017 /
The markets continued to climb to new highs Friday as investors were encouraged by President Trump’s statement that an announcement regarding a “phenomenal” tax policy was imminent. The S&P 500 Index gained 0.36 percent to close at 2,316.10, up 0.82 for the week marking its third consecutive weekly gain. The Dow Jones Industrial Average gained 0.48 percent to close at 20,269.37, up 0.99 percent for the week, while the Nasdaq rose 0.33 percent to close at 5,734.13, up 1.17 percent for the week.

Approximately 70 percent of the S&P 500 has reported results so far this earnings season. Fourth quarter share-weighted earnings for the S&P 500 are on pace to grow by 8.4 percent, which would be the largest gain since the third quarter of 2014, according to Thomson Reuters I/B/E/S.

Let’s Take a
Closer Look at Today’s Trending Tickers

Plug Power’s shares surged 38.82 percent to close at $1.18 a share on Friday. The stock traded between $0.84 and $1.23 on volume 24.71 million shares traded. On February 8th, the company announced that it has shipped the first production ProGen fuel cell engines for use in electric delivery vehicles. The first deliveries of production ProGen engines will be used in electric FedEx Freight delivery vans in the greater Los Angeles area, doubling the vehicle’s range. Plug Power expects to ship ProGen fuel cell engine in the second quarter of 2017.

“The electrification of the auto market is undeniable,” said Andy Marsh, CEO for Plug Power. “But, common to those who consider adoption is ‘range anxiety’ — that being a fear that the vehicle will not make it to its next charge opportunity or have sufficient range for the application. ProGen eliminates that stress, and for that reason, we see this market as large and impactful to Plug Power’s bottom line.”

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FuelCell Energy’s shares spiked 20.00 percent to close at $1.50 a share on Friday. The stock traded between $1.25 and $1.50 on volume of 1.51 million shares traded. On January 12, the company has reported result for the fourth quarter ending in October 31, 2016, where reported loss was $13.7 million or $0.41 a share on revenue of $24.5 million for the fourth quarter, compared to loss of $9.7 million or $0.38 a share on revenue of $51.5 million for the comparable prior year period. The company’s total revenue backlog was $432.3 million as of October 31, 2016 compared to $381.4 million as of October 31, 2015. Cash, cash equivalents, restricted cash and financing availability totaled $156.5 million as of October 31, 2016.

On December 13th, FuelCell announced the acquisition of an operating megawatt-class fuel cell project that generates in excess of 11 million kilowatt hours annually.

Access Today’s FuelCell Research Report
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Today’s Features Includes:

FuelCell Energy Inc. (NASDAQ: FCEL)

Plug Power Inc. (NASDAQ: PLUG)

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