Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Henry Khederian

Why Plug Power, FuelCell, Enphase Energy, First Solar And Sunrun Shares Are Rising

Shares of clean energy manufacturing and solar-related companies, including Plug Power Inc (NASDAQ:PLUG), FuelCell Energy Inc (NASDAQ:FCEL), Enphase Energy Inc (NASDAQ:ENPH), First Solar, Inc. (NASDAQ:FSLR) and Sunrun Inc (NASDAQ:RUN), are all trading higher as a surge in oil prices lifts alternative energy names.

The Russia-Ukraine conflict caused an increase in oil prices and put pressure on some countries to become less dependent on Russian gas. The United States today announced a ban on Russian oil imports.

The uncertainty surrounding oil as the Russia-Ukraine conflict continues to escalate has brought attention to companies focused on alternative energy.

The cost of a barrel of crude oil hit an intraday high of and 13-year high of $129.00 Tuesday morning and is trading around $128.00 at the time of publication.

See Also: Shell Intends To Halt Operations In Russia, Apologizes For Russian Oil Purchase

  • Plug Power is trading higher by 5.2% at $24.46
  • FuelCell is trading higher by 6.6% at $6.31
  • Enphase Energy is trading higher by 11.8% at $177.54
  • First Solar is trading higher by 4.8% at $78.56
  • Sunrun is trading higher by 9.3% at $30.52

 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.