What are fuel cell stocks?

4 Shares Fuel cell stocks are publicly traded companies whose business involves fuel cells, devices for efficiently converting the energy in a fuel (often hydrogen) directly into electricity by chemical means, without combustion. Applications include road transport, large-scale energy storage and short-haul transport such as forklifts.

Why are fuel cell stocks down today?

Image source: Getty Images. The headline reason fuel cell stocks are down today is that J.P. Morgan analyst Paul Coster gave some negative ratings for Plug Power and FuelCell Energy. For Plug Power, he initiated coverage on the stock with a $60 price target, which is lower than where shares trade today.

How did fuel cell stocks perform in 2020?

Fuel cell stocks had a great run in 2020. Plug Power ( PLUG -1.49%) led the way as its stock surged a whopping 973% during the year. Though it's been around for decades, hydrogen fuel cell technology has seen renewed interest in part due to a push from the European Commission, which envisions 13%-14% of Europe's energy coming from hydrogen by 2050.