12 Industrials Stocks Moving in Friday's Pre-Market Session

In Friday's pre-market session, Fusion Fuel Green HTOO shares rose 32.6% to $6.27, while WANG & LEE Group WLGS shares moved up 22.49% to $0.11. Comfort Systems USA FIX stock increased 14.42% to $644.0, and Saia SAIA stock rose 12.89% to $352.0. Losers included OceanPal OP, which declined 43.5% to $0.17, and Ocean Power Techs OPTT, which fell 12.54% to $0.66.

In Friday's pre-market session, Fusion Fuel Green (HTOO) shares rose 32.6% to $6.27, following a €30 million collaboration agreement announced on Tuesday. The hydrogen production company, through its subsidiary Bright Hydrogen Solutions, signed a deal with an integrated green energy technologies provider, committing €30 million in capital over four years for mid-scale hydrogen infrastructure projects [1].

The stock's rally came with heavy trading, with approximately 13 million shares changing hands, compared to a three-month daily average of about 92,000 units. This significant increase in volume underscores the market's interest in the company's latest developments.

Fusion Fuel Green's CEO, Frederico Figueira de Chaves, commented on the collaboration, stating, "This initiative represents a significant step forward in our ambition to scale clean hydrogen solutions and deliver long-term value for our stakeholders." The deal is expected to contribute to the company's goal of expanding its hydrogen infrastructure and supporting decarbonization efforts.

However, despite the recent rally, Fusion Fuel Green has faced significant headwinds. The stock has dropped 78.27% year-to-date and 86.1% over the past 12 months. Furthermore, TipRanks' AI analyst Spark rates HTOO stock as an Underperform with a $4.50 price target, citing ongoing losses and negative cash flows as reasons for this stance [1].

In other recent news, Fusion Fuel Green's subsidiary Al Shola Al Modea Gas Distribution LLC secured multiple new contracts for liquefied petroleum gas (LPG) systems and supply across residential and commercial developments in Dubai [2]. These contracts, valued at approximately AED 1.9 million ($517,000), are expected to contribute significantly to Al Shola Gas's pipeline in upcoming quarters.

Additionally, Fusion Fuel Green has announced several key developments, including the first payment of €370,100 from the sale of its 50% equity stake in P2X Spain Sociedad Limitada and an agency agreement with Houpu Global Clean Energy Co., Ltd. for hydrogen products in Iberia and Latin America [2].

Despite the recent positive news, investors should remain cautious due to the company's financial health challenges and the stock's significant decline over the past year. It is essential to conduct thorough research and consider consulting with a financial advisor before making investment decisions.

References:
[1] https://www.tipranks.com/news/why-is-fusion-fuel-green-stock-htoo-up-160-today
[2] https://ca.investing.com/news/company-news/fusion-fuel-subsidiary-secures-new-lpg-contracts-in-dubai-93CH-4119513