FuelCell Energy Inc. (NASDAQ:FCEL) shares rose Monday amid a broader clean energy rebound, led by Bloom Energy Corp. (NYSE:BE), which gained over 7% as it recovered from its post-earnings selloff. The broader market also provided support, with the Nasdaq up 1.27%, the S&P 500 gaining 0.74% and the Industrials sector advancing 1.4%.
FuelCell Energy has a short interest of 30.64%, indicating significant bearish positioning. The stock recorded a session volume of 4.135 million shares at the time of publication, compared to its 100-day average volume of 7.616 million. Shares are also trading near their 52-week low of $5.71, compared with a 52-week high of $37.88.
Zooming out, the sector has been soft recently, down 1.10% over the past 30 days and down 8.53% over the past 90 days, which helps explain why sharp counter-trend bounces can show up.
Peer Bloom Energy Rebounds
Bloom Energy shares rebounded Monday after plunging 11.24% Friday, as investors reassessed its latest quarterly results and reacted to price-forecast increases from Barclays and Wells Fargo.
Bloom Energy reported third-quarter revenue of $1.24 billion, beating analyst estimates of $1.05 billion. Third-quarter adjusted earnings reached 94 cents per share, beating consensus expectations of 68 cents per share. Total revenue climbed 138.1% year-over-year, supported by $1.074 billion in product revenue. The company finished the period holding $2.49 billion in cash and cash equivalents.
High Reliability Rating
On Oct. 21, FuelCell Energy announced that its Block System received a 99.873% rating in PJM Interconnection’s unit-specific Effective Load Carrying Capability assessment for the 2028/29 Reliability Backstop Procurement process, indicating that nearly all of the evaluated system’s capacity could be recognized as dependable.
Analyst Ratings
According to Benzinga, eight analysts covering FuelCell Energy maintain a consensus Buy rating, with five recommending Buy, two Hold, and one Sell. The average price forecast is $22, representing an upside of 83.6%.
FCEL Stock Price Activity: FuelCell Energy shares are trading higher by 5.94% at $11.77 at the time of publication on Monday, according to Benzinga Pro data.
Photo by T. Schneider via Shutterstock
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