What Happened?
Shares of carbonate fuel cell technology developer FuelCell Energy (NASDAQ: FCEL) jumped 16.3% in the afternoon session after the hydrogen fuel cell sector experienced a surge in positive sentiment after an analyst at H.C. Wainwright more than doubled the price target for industry peer Plug Power.
While the analyst note did not mention FuelCell Energy directly, the enthusiasm for Plug Power spilled over, lifting other stocks in the sector. The price target for Plug Power was raised from $3 to $7.
Is now the time to buy FuelCell Energy? Access our full analysis report here.
What Is The Market Telling Us
FuelCell Energy’s shares are extremely volatile and have had 87 moves greater than 5% over the last year. But moves this big are rare even for FuelCell Energy and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 11 days ago when the stock gained 5.6% after a raft of positive news across the hydrogen and fuel cell industry lifted investor sentiment for the sector. The stock appeared to rise in sympathy with broader industry developments, as there was no direct news from the company. Highlighting the growing adoption of the technology, Advent Technologies announced it delivered portable fuel cell power units to the U.S. Army. In the auto space, BMW advanced its commitment to hydrogen by moving its iX5 Hydrogen vehicle from a pilot fleet to series production. The positive momentum was also seen in other industries, with Kubota unveiling an unmanned farm tractor powered by a hydrogen fuel cell, and Alstom completing the first run of a shunting locomotive converted from diesel to hydrogen power. These developments across various applications signaled increasing real-world use and investment in hydrogen technology, boosting the outlook for companies in the space.
FuelCell Energy is down 2% since the beginning of the year, and at $10.17 per share, it is trading 22.2% below its 52-week high of $13.07 from January 2025. Investors who bought $1,000 worth of FuelCell Energy’s shares 5 years ago would now be looking at an investment worth $179.28.
Do you want to know what moves the business you care about? Add them to your StockStory watchlist and every time a stock significantly moves, we provide you with a timely explanation straight to your inbox. It’s free for active Edge members and will only take you a second.
