Fuelcell Energy, Inc.

Fuelcell Energy, Inc. (NASDAQ: FCEL) is a full-service fuel cell company that provides platform for power generation. It offers a variety of fuel cell devices that can be utilized for a variety of applications, including multi-megawatt utility applications, microgrid applications, distributed hydrogen, and utilization of the platform's thermal properties for on-site heat and chilling applications.

Key Highlights

• The company reported a decline of 1.81% in total revenue to USD 69.59 million in FY21 (ended October 31, 2021) compared to USD 70.87 million in FY20.
• Net loss for FY21 increased to USD 104.26 million from USD 92.44 million reported in FY20.
• On December 27, 2021, FCEL signed an settlement agreement with POSCO energy and its subsidiary, Korea Fuel Cell., Ltd., pursuant to this agreement FCEL now has access to the Asian market, including South Korea.
• Negative EBITDA Margin of 64.7% whereas Peer’s Median stood at 15.6%.
• Its Debt/Equity ratio as of FY21 was 0.14x.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bearish indicator.
• Stock is currently leaning towards the lower end of the 52-week range of USD 5.34 to USD 29.44.
• FCEL's share price has decreased 22.22% and 42.58% in the past three and six months, respectively.

Technical Price Chart (as of December 29, 2021). Analysis by Kalkine

Conclusion: Considering the movement in the stock price in the past six months, flat top-line performance, current trading levels, and associated risks, we recommend a "Watch" rating on the stock at the closing price of USD 5.11, down 12.95% as of December 29, 2021.

*The reference data in this report has been partly sourced from REFINITIV.

Plug Power Inc.

Plug Power Inc. (NASDAQ: PLUG) offers turnkey hydrogen fuel cell solutions focusing on Proton exchange membrane (PEM), fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and associated hydrogen and green hydrogen generation, storage, and dispensing infrastructure.

Key Highlights

• The company reported a growth of 34.45% in total revenue to USD 143.92 million in Q3FY21 (ended September 30, 2021) compared to USD 107.05 million in Q3FY20.
• Net loss for Q3FY21 increased to USD 106.67 million from USD 65.22 million reported in Q3FY20.
• On December 15, 2021, Edison Motors, a renowned Korean electric vehicle manufacturer, partnered with PLUG to develop and commercialize a hydrogen fuel cell-powered electric city bus.
• Negative Net Margin of 74.1% whereas Peer’s Median stood at 8.8%.
• Its Debt/Equity ratio as of Q3FY21 was 0.12x.
• Stock is currently trading below its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bearish indicator.
• Stock is currently leaning towards the lower end of the 52-week range of USD 18.47 to USD 75.49.
• PLUG's share price has decreased 32.82% in the past one month and increased 11.00% in three months.

Technical Price Chart (as of December 29, 2021). Analysis by Kalkine

Conclusion: Considering the movement in the stock price in the past three months, significant growth in top-line, current trading levels, and associated risks, we recommend a "Watch" rating on the stock at the closing price of USD 27.96, down 1.31% as of December 29, 2021.

*The reference data in this report has been partly sourced from REFINITIV.