- 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.
- Now read: Daily Insider Ratings Round Up 9/18/17: Pulse, CrossAmerica, Exa, OPKO, Plug, Cleveland-Cliffs, CASI
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