FuelCell Energy Inc (NASDAQ: FCEL) has had a strong time in the market over the past week or so, and for good reason. The company recently announced an expanded agreement with ExxonMobil and a financing deal that will set it on a strong foundation.
Nonetheless, the stock is moving up yet again today, trading on gains of mroe than 6%. However, today’s gains seem to be related to a report issued by Zacks, not about the company, but about the clean energy industry as a whole. Here’s what’s going on.
Zacks’ Positive Clean Energy View Sends FCEL Stock UP
Zacks issued a new report this morning, providing its views on the alternative energy industry. Of course, this is the industry in which FuelCell Energy operates.
In the report, Zacks pointed to a bright future for the alternative energy indsutry. In the report, the firm said that global trends in renewable energy show increasing investments. In fact, the year 2018 marked the fifth successive period in which global investment in renewable energy was more than a quarter trillion dollars.
The firm also pointed to a BloombergNEF study that suggested that investments in clean energy will hit $2.6 trillion in the ten year period between 2010 and 2019. All in all, the sector is expected to continue on a positive trend, and that’s great news for all involved, including FCEL.
There’s Plenty To Be Excited About Here
At first glance, the news issued by Zacks isn’t that big of a deal. That is, until you really dive in. Here’s why I believe that investors are so excited about FCEL and the alternative energy industry as a whole:
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