The fuel cell sector is getting some rekindled interest on Tuesday. These names have pulled back handily from their highs and during the sell-off, but these stocks will remain controversial battleground stocks due to their high valuations. The interest also appears to be driven by outside forces rather than news releases from the company.
FuelCell Energy Inc. (NASDAQ: FCEL) was given an analyst report distributed via PRNewswire, which is not generally how analyst reports are distributed. A firm called Brokerbank Securities, which we have never heard of before, called it “the little fuel cell company that could.” We will leave the rest of that interpretation up to you because this is an unknown firm. FuelCell shares were down more than 5% on Monday, but the stock was indicated up almost 5% at $2.38 early Tuesday. Its 52-week range is $0.84 to $4.74.
Plug Power Inc. (NASDAQ: PLUG) was featured on Tuesday in a Bloomberg interview of the company’s chief executive officer at its headquarters. Bloomberg called it the best performer on the Nasdaq and said that the first new goal was refrigerated delivery trucks and airport support vehicles. Bloomberg also showed that this is expected to be its first profitable year since coming public in 1999. Plug Power shares were down more than 5% on Monday. They were indicated up 5% on Tuesday at $7.08. Its 52-week range is $0.15 to $11.72.
Ballard Power Systems Inc. (NASDAQ: BLDP) is getting a tertiary rise simply by being a fuel cell player. Its stock fell by almost 9% on Monday, but rose almost 4% to $4.09 in Tuesday premarket trading. Its 52-week range is $0.76 to $8.38.
Here are the five most battered tech stocks of the S&P 500 during the recent sell-off. As a reminder, fuel cell shares are among the most speculative names in the field of alternative energy.