Why Plug Power, Bloom Energy, and FuelCell Energy Stocks Jumped This Week
The stocks of several companies moving forward with hydrogen fuel cell development are having a good week, even with the overall markets in a bit of a downturn. The two things may, in fact, be related. Shares of Plug Power (NASDAQ: PLUG), Bloom Energy (NYSE: BE), and FuelCell Energy (NASDAQ: FCEL) have all jumped this week. These names were up as much as between 8% and 14% at their highs during the period. As of late trading on Friday, the weekly moves for these names were as follows:
Investor enthusiasm for these names, and others, in the alternative energy sector began with some positive earnings news last week. Bloom Energy reported its fourth-quarter and full-year financial results last Friday. Investors and some analysts thought the results were a sign the company was on the right path. The fuel cell company told investors it expects to generate positive cash flow from operations in 2022. It also raised its long-term, 10-year revenue growth guidance by 500 basis points to an annualized range of 30% to 35%.
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Source Fool.com
