A US legislator warned a Pacific ally against China risking undermining the security of a sensitive undersea cable project. The letter reviewed by Reuters shows that if a state-backed bid called for a cut-price bid, it would win the tender process.
The letter was addressed to the Federated States of Micronesia (FSM) by Republicans Ted Cruz and Marco Rubio, dated September 18. It could use that opportunity to wage “campaigns of espionage and geopolitical coercion.” China recently imposed symbolic sanctions on Cruz and Rubio.
According to Reuters, Huawei Marine is now majority-owned by another Chinese firm after being recently divested from Huawei Technologies Co Ltd. They submitted bids for the $72.6 million project funded by the World Bank and the Asian Development Bank (ADB) at a price that was over 20% lower than two competitors.
The United States has pressed governments worldwide to block Huawei Technologies Co Ltd from providing critical infrastructure. It has been alleged the company was giving data to the Chinese government for snooping, an accusation that the company consistently denies.
Following are the notable Stocks form the Electrical Equipment industry:
FuelCell Energy Inc. (NASDAQ:FCEL) shares were trading up 14.55% at $10.74 at the time of writing on Tuesday. The company on December 18, 2020 revealed that state regulators have improperly rescinded RFP awards for three fuel cell projects .
FuelCell Energy Inc. (NASDAQ:FCEL) share price went from a low point around $0.75 to briefly over $11.31 in past 52 weeks, though shares have since pulled back to $10.74. FCEL market cap has remained high, hitting $3.20B at the time of writing, giving it price-to-sales ratio of more than 40.
If we look at the recent analyst rating FCEL, Canaccord Genuity resumed coverage on FCEL shares with a Hold rating and a $4.50 price target, which implies room for -6.24% downside momentum this year.
Plug Power Inc. (PLUG) last closed at $35.69, in a 52-week range of $2.53 to $33.02. On December 15, 2020, Vuzix declared that Plug Power has developed and successfully deployed an AR smart glasses-based remote training and onboarding program utilizing Vuzix M400 Smart Glasses powered by Ubimax Frontline. Analysts have a consensus price target of $25.31.
CBAK Energy Technology Inc. (CBAT) stock soar by 18.75% to $6.46. The firm on December 11, 2020 announced the Closing of $49.2 million registered direct offering.
DPW Holdings Inc. (AMEX:DPW) Shares headed rising, higher as much as 7.86%. DPW Holdings, Inc. (DPW) recently revealed that its subsidiary has signed a purchase agreement to acquire a 617,000 square foot mixed-use commercial facility located on a 34.5 acre site in southern Michigan for $3.9 million in cash.
Ocean Power Technologies Inc. (NASDAQ:OPTT) rose 20.38% after gaining more than $0.54 on Tuesday. The firm on December 8, 2020 released its financial results for the second quarter of fiscal year 2021 ended October 31, 2020.
Bloom Energy Corporation (BE) last closed at $30.32, in a 52-week range of $3.00 to $31.04. On December 14, 2020, the company and El Camino Health declared the launch of the University of Illinois’ innovative Shield T3 COVID testing system and mobile laboratory. Analysts have a consensus price target of $20.56.
Vertiv Holdings Co. (VRT) stock drop by -0.26% to $18.96. The most recent rating by Vertical Research, on November 18, 2020, is at a Buy.
Pioneer Power Solutions Inc. (NASDAQ:PPSI) Shares headed rising, higher as much as 10.55%. The company recently reported that it has been awarded new service agreement with large home improvement retailer. The most recent rating by ROTH Capital, on October 29, 2015, is at a Buy.
Eos Energy Enterprises Inc. (NASDAQ:EOSE) rose 5.89% after gaining more than $0.89 on Tuesday after declaring that it has a firm order from Charge Bliss, Inc., to provide a critical care hospital with 2 MW of energy storage using its Znyth battery.
Polar Power Inc. (POLA) last closed at $5.15, in a 52-week range of $0.95 to $6.64.
GrafTech International Ltd. (EAF) stock drop by -0.69% to $8.60. The company on December 15, 2020 declared upsizing and pricing of secondary offering of common stock by existing stockholders. The most recent rating by RBC Capital Mkts, on February 13, 2020, is at a Sector perform.