FuelCell Energy Rockets 15%, Bloom Energy Jumps 9% While Plug Power Drifts: Why Hydrogen Bulls Picked Winners

FuelCell Energy shares rise sharply in midday trading as hydrogen-focused investors rotate back into a heavily beaten-down name, while Bloom Energy also gains and Plug Power barely moves. The rebound follows a prior pullback that hit FuelCell Energy and Plug Power, with today’s reversal concentrated in companies tied to data center power. FuelCell Energy’s pivot to data center power is supported by Q4 FY2025 revenue of $55.02M, 16% above estimates, and unrestricted cash of $278.1M. Bloom Energy is described as the structural leader, with strong one-year and year-to-date gains and Q1 2026 revenue of $751.05M, up 130% year over year, alongside non-GAAP EPS of $0.44 above consensus.

"Shares of FuelCell Energy ( NASDAQ:FCEL) are ripping higher in midday trading Wednesday, up 15% as hydrogen bulls rotate back into the most beaten-down name in the complex. Bloom Energy ( NYSE:BE) stock is participating as well, gaining 9%. Plug Power ( NASDAQ:PLUG) shares, by contrast, are barely budging with a 1% uptick. That's the story today: the hydrogen trade isn't participating equally across all stocks in the fuel-cell sector today."

"FCEL stock is the day's clear winner because it had the most room to bounce. The shares were heading in with a one-month gain of 139% and a year-to-date move of 137%, yet the five-year chart still shows a 92% drawdown. The fundamental peg is FuelCell's pivot to data center power. Q4 FY2025 revenue came in at $55.02M, beating estimates by 16%, and unrestricted cash jumped to $278.1M (per the company's 8-K filing on sec.gov)."

"FuelCell Energy CEO Jason Few stated, "Our strategy is deeply focused on the data center market where we see significant opportunities for our efficient, resilient power solutions." Retail is paying attention. One WallStreetBets thread this week framed FCEL stock as "one of 3 fuel cell players among BE, PLUG" riding the AI catalyst, a sign sentiment has flipped after the pullback."

"Bloom Energy stock is up less today, but the one-year return tells the bigger story. BE shares are up 1,386% over the past year and 169% year to date. The market has already priced in much of the on-site power thesis. The numbers back the narrative. Bloom Energy's Q1 2026 revenue hit $751.05M, up 130% year over year, with non-GAAP EPS of $0.44 blowing past the $0.1285 consensus."

Read at 24/7 Wall St.