Posted by sandihop on September 24, 2003 at 14:18:33:
Renewableenergystocks.com Issues Update on Renewable/Alternative Energy Stock - Fuelcell Energy, Inc.
Point Roberts, WA; Salem, New York - ECON Corporate Services - September 24, 2003 (ECON) http://www.Investorideas.com and its sub-domain http://www.renewableenergystocks.com is pleased to provide investors interested in renewable energy stocks an update Fuelcell Energy, Inc. (FCEL). Renewableenergysstocks.com is a unique site offering investors research, news, links and information on private and public companies in alternative energy. Guest writer J.Peter Lynch provides insight into the industry and the participants, based on years of experience in the stock market and as an expert in solar and renewable energy.
Renewable Energy Stocks - Update September 24, 2003
J. Peter Lynch
This morning Fuelcell Energy, Inc. (FCEL) hit a 52-week high of $13.59. I expect it is the result of yesterday's announcement with Caterpillar on the first joint sale of a fuel cell power plant in California.
The sale, completed by Quinn Power Systems Associates, the Caterpillar dealer representing a portion of southern California, will include site engineering and installation of the FuelCell Energy DFC300A power plant and related equipment.
This plant is a 250-kilowatt Direct FuelCell(R) (DFC(R)) power plant that will be used by the Los Angeles County Sanitation Districts (Districts), which expect the new plant to provide energy cost savings compared to current utility rates in the Los Angeles area.
In April 2002, Caterpillar and FuelCell Energy signed an alliance agreement to distribute and develop ultra-low emission fuel cell power generation products for industrial and commercial use. The agreement calls for the companies to jointly develop power plants in the 250 kW to 3MW size range, incorporating FuelCell Energy's fuel cell module.
As a result of this, the stock has moved very strongly to the upside. It is technically overbought in the short term, since it has moved well above its 10 week trading range. Normally you would expect that the stock would either pause in this range or pull back to the $11.00 to $12.00 range to consolidate its recent gains. However, long term investors should be aware that all of the long term indicators for the stock are still positive and the outlook for the
Fuel Cell Industry can only get brighter.
The site http://www.renewableenergystocks.com also features live industry news feed provided by http://www.alternate-energy.net/.
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