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Forgotten Energy Technology Shines

The company reported that for the fiscal year ended Oct. 31, it cut losses by 18 percent when compared with the year before, but revenue fell slightly to $19.7 million. The company said its sales backlog at fiscal year-end was $154.3 million, its largest ever. During 2010, FuelCell Energy also received its first order from an electric utility, Pacific Gas & Electric (PCG - Get Report).

On Jan. 10, FuelCell Energy announced that it had agreed to sell 10.2 million units to an investor, which will raise $17.8 million for product development and expansion of manufacturing capacity.

Analysts following FuelCell Energy have remained fairly bullish on shares, with three of the six following the company rating it a "strong buy." Currently, the median 12-month price target is $3.25, which represents 63 percent upside potential.

FuelCell Energy's stock has doubled since moving below $1 in August, and I would have to label any investment in this company as speculative. But as the world's power demands continue to grow and alternatives become increasingly competitive, we're likely to hear more about fuel cells.

Now is a good time to invest in energy, and my Small Cap Investor PRO portfolio includes several interesting energy companies, including one in the red-hot China market. Click here to learn more about how to use the Russell 2000 to find the best stocks.

Ian Wyatt is editor of

At the time of publication, Watt did not own any equities mentioned.

Wyatt Investment Research, founded in 2001 as a publisher of newsletters, offers independent investment research of financial markets, stocks, bonds, ETFs and mutual funds to about 250,000 individual investors. The company is led by founder Ian Wyatt, who serves as publisher and chief investment strategist.

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