Boston, MA 03/04/2014 (wallstreetpr) – FuelCell Energy Inc (NASDAQ:FCEL) surges as Plug Power Inc (NASDAQ:PLUG) announces its Wal-Mart Stores Inc (NYSE:WMT) deal.
FuelCell Energy Inc (NASDAQ:FCEL), a global leader in the manufacture, design, operation and service of ultra clean, competent and dependable cell power plants, added 7.7% after trading on Wednesday. By early Thursday afternoon, it had surged up to $1.95. This trading volume of 9.8 million is almost twice as high the company’s three month daily average of 5.3 million.
In yesterday’s trading, it achieved a one year high of $2.20 during the afternoon hours of the trading. It has been rising steadily since Wednesday last week and on Monday surged suddenly to jump higher than 11%.
Strengths And Weaknesses
FuelCell Energy Inc (NASDAQ:FCEL) has nevertheless been rated a sell by Wall Street analysts on account of its poor equity returns, low operating cash flow, poor profits margins and the usual high debt management risk. Analysts believe these concerns overshadow any strengths of the company.
FuelCell Energy Inc (NASDAQ:FCEL) has more than 300 megawatts of power generation capacity installed or in backlog. Its power plants have generated greater than 2 billion kilowatt hours of ultra clean power with a diverse range of fuels such as renewable biogas from food processing and wastewater treatment or clean natural gas.
1Q 2014 Results
FuelCell Energy Inc (NASDAQ:FCEL) had announced in the last week of February that it plans to report the first quarter financial results for the year 2014 in the second week of March, 2014. The company had announced to make a conference call with the investors and media to announce the results on March 11 at 10 a.m. Eastern Time.
Apart from FuelCell Energy Inc (NASDAQ:FCEL), other peer companies which benefitted from the deal between Wal-Mart Stores Inc (NYSE:WMT) and Plug Power Inc (NASDAQ:PLUG) is Ballard Power Systems Inc (USA) (NASDAQ:BLPD), which also surged 9% up to $3.65. Trading volume of 9 million is more than thrice the company’s three month daily average.
