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EV Battery Stocks Continue to Impress (FCEL, KULR, PLUG)

The Electric Vehicle space, led by Tesla (NASDAQ:TSLA) is clearly the hottest thing since sliced bread right now, leading the charge in this 1999-ish red-hot stock market as Millennials and Gen-Z-ers begin to discover the wonders of the stock market.

And that’s not likely to change as an overall dynamic. Morgan Stanley estimates that $68 trillion will flow to these younger big generations through inheritances over the next decade, which will continue to arm them with investable resources, further suggesting new industries and technologies will come to increasingly dominate the leaderboards.

According to MarketsandMarkets, the electric vehicles market is projected to reach approximately 27 million units by 2030 from an estimated 3.3 million units in 2019 for annualized growth of 21%, making it one of the fastest growing big market industries on the planet over the same period.

But it will need higher performance and safety standards in its fuel cells to power that growth.

With that in mind, we take a look at some of the most interesting stocks focused on the EV Battery market, including: FuelCell Energy Inc (NASDAQ:FCEL), KULR Technology Group Inc (OTCMKTS:KULR), and Plug Power Inc (NASDAQ:PLUG).

 

FuelCell Energy Inc (NASDAQ:FCEL) is a staple in the EV supplier space. The company designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation.

The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and micro-grid, as well as multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.

FuelCell Energy Inc (NASDAQ:FCEL) most recently announced that state regulators have improperly rescinded RFP awards for three fuel cell projects previously selected in the Shared Clean Energy Facility program, putting its state high tech manufacturing job growth at risk. The rescinded awards were given to solar development projects previously ordered to be disqualified by the Public Utility Regulatory Authority.

“By any measure, this was wholly-improper, and illuminates the fact that DEEP/PURA’s own process lacks integrity,” said Jason Few, CEO of FuelCell Energy. “Either DEEP/PURA must honor the original awards, or we will have no choice but to reevaluate our in state growth prospects and potentially modify our hiring plans. Unfortunately, this is not the first time that DEEP has taken actions detrimental to the State’s home grown fuel cell industry.

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 46% in that timeframe.

FuelCell Energy Inc (NASDAQ:FCEL) pulled in sales of $18.7M in its last reported quarterly financials, representing top line growth of -17.5%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($72.4M against $54.6M).

 

KULR Technology Group Inc (OTCMKTS:KULR) develops, manufactures and licenses next-generation carbon fiber thermal management technologies for batteries and electronic systems. It is basically a hedge for L-Ion battery technology by removing downside risk for EV manufacturers through shifting odds on negative events.

The company offers lithium-ion battery thermal runaway shields; fiber thermal interface materials; phase change material heatsinks; HYDRA TRS battery storage bags; internal short circuit device; and CRUX cathodes. Its technologies are used in electric vehicles and autonomous driving systems, artificial intelligence and cloud computing, and energy storage and 5G communication technologies.

KULR Technology Group Inc (OTCMKTS:KULR) most recently announced that it has provided thermal management design services to a global Tier-1 manufacturer of aerospace and defense technology to improve thermal subsystems needed for increased performance of hypersonic weapons.

“As the national need for long-range airborne vehicles grows, and commercial demonstrations like Space X continue to show the viability of reusable space and sub-orbital vehicles, active and passive heat management become increasingly critical elements to mission success,” says Dave Harden, founder and CEO of The Outpost and KULR advisory board member. “KULR’s closed loop core cooling technology, along with its problem-solving team, are rapidly establishing themselves as essential building blocks for hypersonics, space vehicles, long range stand-off weapons and long loiter drones.”

If you’re long this stock, then you’re liking how the stock has responded to the announcement. KULR shares have been moving higher over the past week overall, pushing about 17% to the upside on above average trading volume.

KULR Technology Group Inc (OTCMKTS:KULR) is an early-stage more speculative player, but with growing exposure and a widening base of core industry ties. The big commercial performance is still out in front of this one provided the execution is there.

 

Plug Power Inc (NASDAQ:PLUG) provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

The company offers GenDrive, a hydrogen fueled PEM fuel cell system that provides power to material handling electric vehicles; GenFuel, a hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing maintenance and service program for GenDrive and GenSure fuel cells, GenFuel products, and ProGen engines; and GenSure, a stationary fuel cell solution that provides modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors.

Plug Power Inc (NASDAQ:PLUG) just announced that it and SK Group, one of the leading South Korean business groups, intend to form a strategic partnership to accelerate hydrogen as an alternative energy source in Asian markets.

Through this partnership, Plug Power and SK Group intend to provide hydrogen fuel cell systems, hydrogen fueling stations, and electrolyzers to the Korean and broader Asian markets.

The context for this announcement is a bit of a bid, with shares acting well over the past five days, up about 52% in that timeframe.

Plug Power Inc (NASDAQ:PLUG) generated sales of $107M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 57.2% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($448.1M against $263.9M).

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