FuelCell Energy, Inc. (NASDAQ:FCEL) ranks among the best hydrogen and fuel cell stocks to buy for 2026. On December 19, TD Cowen boosted its price target for FuelCell Energy, Inc. (NASDAQ:FCEL) to $9 from $7, while keeping a Hold rating on the stock following the fourth-quarter fiscal results. The company’s revenue increased by 12% year-over-year, indicating a favorable trend. On the other hand, FuelCell Energy’s backlog fell 4% quarter-over-quarter, from $1.24 billion to $1.19 billion, and its gross loss ...

Core Insights - Plug Power Inc. (PLUG) has struggled to achieve profitability, leading to a reliance on external capital for operational funding [1] - The company's first-quarter 2025 results indicate some recovery, with revenues of $133.7 million, an 11.1% year-over-year increase [2] - Despite revenue growth, PLUG continues to face challenges with negative gross margins and cash inflows [2][3] Financial Performance - In Q1 2025, PLUG reported a net loss of approximately $197 million (21 cents per share), an improvement from a $295.6 million loss in the same quarter last year [3] - The operating cash outflow for Q1 2025 was $105.6 million, down from $167.7 million in the previous year [3] - The gross margin was negative 55% in Q1 2025, an improvement from negative 132% in the year-ago quarter, attributed to cost reduction and supply-chain optimization efforts [4] Cash Management and Strategic Initiatives - PLUG's cash burn rate decreased nearly 50% year-over-year in Q1 2025, aided by pricing actions and supply-chain improvements [5] - The company launched Project Quantum Leap, aiming for over $200 million in annualized savings, which is expected to enhance cash flow and further reduce cash burn [5] Peer Comparison - FuelCell Energy, a peer of PLUG, had cash and cash equivalents of $116.1 million and used net cash of $75.6 million from operating activities, down 21% year-over-year [6] - Bloom Energy, another competitor, exited Q1 2025 with cash and cash equivalents of $794.8 million and used net cash of $110.7 million from operating activities, down 24.8% year-over-year [7] Market Performance - PLUG shares have declined by 59.1% year-to-date, compared to an 8.3% decline in the industry [8] - The stock is currently trading at a forward price-to-earnings ratio of negative 1.69X, significantly lower than the industry average of 22.83X [10] Earnings Estimates - The Zacks Consensus Estimate for PLUG's bottom line has increased for the second quarter of 2025 and for the full year 2025 over the past 60 days [11]