fuel cells

Shares of fuel cell power companies including Plug Power (NASDAQ:PLUG), FuelCell Energy (NASDAQ:FCEL), Ballard Power (NASDAQ:BLDP) and Hydrogenics (NASDAQ:HYGS) rallied in today's trade amid heightened awareness of recent natural disasters including hurricanes and earthquakes: PLUG +13.7%, FCEL +5.7%, BLDP +5.6%, HYGS +1.1%.
The U.S. Energy Department said just last week that "the business case for fuel cells is growing... [the U.S.] is taking a leadership role in technology development, manufacturing and economic impact. A main reason for this success is the increasing investment by the private sector and business community."
BLDP's recent analyst day prompted H.C. Wainwright to double its stock price target to $6 from $3, citing the company's promising China opportunities among other factors.
FBR Capital also hiked its price target, to $6 from $3.50, saying BLDP is in the early stages of capitalizing on the use of fuel cells for vehicle electrification and deserves to trade at a premium to peers given its technology leadership, local presence and partnerships in China, and improving financial position.
PLUG Chairman George McNamee disclosed earlier this week that he purchased 200K of the company's shares worth $426K.

source: seeking alpha

gravity