FuelCell (FCEL) Trips as Plug Power (PLUG) Continues Descent

NEW YORK (TheStreet) -- Profit-taking is running rife in the fuel-cell sector on Monday as heavy-volume stocks tumble. FuelCell Energy (FCEL) is leading the sector's losses.

Shares were running higher in recent weeks until March 11 when a report out of Citron Research taking Plug Power's (PLUG) financials to task sent the sector, and FuelCell, into free-fall.

By midafternoon Monday, FuelCell Energy has tumbled 7.3% to $2.80. Over the past five trading sessions, the Danbury, Conn.-based business has taken off 28.5%. However, this puts a minor dent in a stock that has rallied 99.3% since the beginning of the year.

Last Tuesday, fuel-cell stocks including Plug Power and FuelCell plummeted after Citron analysts said Plug Power would be fairly valued at 50 cents, a blended average of recent capital raises. The firm also estimated the company has lost close to $850 million since the 2000 crash and has yet to develop intellectual property or "meaningful revenue growth."

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

FCEL Chart FCEL data by YCharts

Must Read: Warren Buffett's 10 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Global Stocks Edge Higher, But Bond Yields, Oil Prices May Test Market Strength

Global Stocks Edge Higher, But Bond Yields, Oil Prices May Test Market Strength

SAP Shares Leap After Cloud Business Prompts Full-Year Guidance Upgrade

SAP Shares Leap After Cloud Business Prompts Full-Year Guidance Upgrade

Sohn Conference Briefly Distracts From Barrage of Earnings -- ICYMI

Sohn Conference Briefly Distracts From Barrage of Earnings -- ICYMI

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Dow and Nasdaq Finish Lower as 10-Year Treasury Yield Hovers Near 3%

Video: Stop Using Student Loan Money to Buy Bitcoin

Video: Stop Using Student Loan Money to Buy Bitcoin