Plug Power energizing fuel cell stocks

Plug Power's surge is providing a jolt to other fuel cell manufacturers.

Plug jumped 22% in early trading Tuesday before closing up 15% to $6.69 a share, extending an electrifying run that's propelled shares up nearly 4,700% from a 52-week, 14-cent low. Shares have rocketed since the Latham, N.Y., based company announced a deal to provide Wal-Mart with fuel cells for 1,738 industrial forklifts and a stock analyst boosted his price target to $5.50 a share from $5.

Wall Street pumped up trading volume on Plug Power and rival green technology energy companies. Among them:

•Ballard Power Systems, a Canadian hydrogen fuel cell maker, jumped 27% to $5.36.

•FuelCell Energy, which makes fuel cells that run on natural gas and renewable biogas, climbed 25% to $2.71.

•Maxwell Technologies gained 15% to $12.23. The San Diego-based energy storage provider's CEO, John Warwick, will speak at a March 10 investment conference.

•Quantum Fuel Systems Technologies WorldWide rose 10% to $9.55. The Lake Forest, CA., firm makes alternative fuel storage and drive systems for trucks and automobiles.

Fuel cell stocks aren't for faint-hearted investors. Plug Power posted annual sales of just $24.5 million.The company has had annual losses of $31 million to $42 million since 2009. After an initial public offering at $15 a share in 1999, the stock peaked at $156.50. Shareholders later sued company executives for misleading them. Maxwell Tech has also faced shareholder suits. Last year, it restated 2011 and 2012 revenue. And FuelCell Energy peaked at about $73 in July 2000.

Green technology has also held more promise than results, and business plans are sometimes abandoned. Ballard, which once was in a venture to provide cars and business fleets with hydrogen fuel, now focuses on forklifts.

Still, fuel cell stocks' recent rocket ride has been impressive. Ballard, which opened 2014 at about $1.50 a share, is up 664% from a 52-week low. Maxwell Tech is up almost 150% f! rom $4.90, while FuelCell Energy has climbed 222% from 84 cents.

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