Update (1:22 p.m.): Updated with Monday trading information.
NEW YORK (TheStreet) -- FuelCell Energy (FCEL) rose Monday morning as peer company Plug Power (PLUG) updated investors on its business in a conference call at 10 a.m. ET. But the stock then fell alongside Plug Power after the call.
Plug Power signed a non-binding memorandum of understanding with Hyundai Hysco for a joint venture partnership to sell hydrogen fuel cells in Asia. Details of the joint venture must be finalized by July 31 under the terms of this MOU. The company also plans to close $150 million in 2014 bookings; it has booked nearly $80 million year to date.
Separately, TheStreet Ratings team rates FUELCELL ENERGY INC as a "sell" with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FUELCELL ENERGY INC (FCEL) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and poor profit margins."