Why FuelCell Energy (FCEL) Hit A One-Year High Today (Update)

Update (4:35 p.m.): Updated with Monday market close information.

NEW YORK (TheStreet) -- FuelCell Energy  (FCEL) hit a one-year high of $4.23 on Monday as fuel cell providers, including Plug Power  (PLUG) and Ballard Power Systems  (BLDP), continued their recent surge as the demand for clean battery technology increases.

Plug Power recently earned a contract with Wal-Mart  (WMT) to provide more than 1,700 hydrogen fuel cell solutions to power electric lift truck fleets at six of Wal-Mart's North American distribution centers. Plug Power's stock has increased almost sixfold so far this year.

FuelCell closed up 11.33% to $3.93, up 40 cents from its previous close of $3.53, on Monday. The company will also release its first-quarter earnings after the market closes on Monday.

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FCEL Chart

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