What's Going On With FuelCell Energy Stock Today?
Portfolio Pulse from Erica Kollmann
FuelCell Energy, Inc. (NASDAQ:FCEL) shares are trading higher, up more than 12% over the past five days. The company announced a significant agreement with Gyeonggi Green Energy Co., Ltd. to supply 42 upgraded fuel cell modules and a seven-year service agreement, expected to generate $160 million in revenue. Additionally, 22.63% of available shares are being sold short, which can lead to large price movements. FuelCell Energy is set to report its second-quarter financial results on June 10, with analysts expecting losses of 8 cents per share and quarterly revenue of $21.351 million. The stock has an average 1-year price target of $1.75, indicating a potential upside of 79.4%.
June 03, 2024 | 4:31 pm
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POSITIVE IMPACT
FuelCell Energy shares are up over 12% in the past five days following a $160 million agreement with Gyeonggi Green Energy Co., Ltd. The deal includes a seven-year service agreement and is expected to generate significant revenue. With 22.63% of shares sold short, the stock may experience high volatility. Upcoming Q2 financial results on June 10 could further impact the stock price.
The $160 million agreement with Gyeonggi Green Energy is a significant revenue boost for FuelCell Energy, positively impacting the stock price. The high short interest suggests potential for large price movements. Upcoming Q2 results could further influence the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100