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FuelCell Energy Inc (FCEL) plunged in the pre-market trading session; here’s why

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In the pre-market trading session, FuelCell Energy Inc. (FCEL) stock plunged by-4.66% to the price of $8.19 at the time of writing. FCEL’s stock slumped to $8.59 in the previously closed session which is a -6.73% loss. The FCEL stock volume traded about 28.1 million shares. The average trade volume for the company in the past 3 months is 32.57M. In the past year, FCEL stock soared by 433.54%. In the past week, the stock slumped by -22.96%. In the past three and six months, the FCEL shares dropped by -52.61% and added 268.67% respectively. FuelCell Energy Inc. is currently valued at $2.71 billion with 312.11 million outstanding shares.

FuelCell’s operational portfolio

FuelCell Energy Inc is an energy-based company that specifically focuses on the provision of fuel cell based on technology and energy solutions. The company’s main operation includes design, operating, and selling services related to fuel cell power plant stationary for power production.

The company’s product offering includes SureSource which is a carbonate fuel cell technology for which it has established a product line. This product line includes utility grid, micro grid, carbon utilization and megawatt applications. It also provides natural gas pipeline applications through its power plant which are named SureSource Recovery.

The company is adamant for creating and generating energy based utilities such as useable heat, electricity and water through clean and efficient means. The company’s clientage includes the health sector, education sector, telecommunication, commercial independent power producers and government.

The company’s base of operation primarily exists in England, South Korea, Switzerland and Germany. The fuel cell industry as of recently has gainers and losers in the stock market.

The rise and fall in the stock performances of fuel cell companies

Company such as Plug power which is a hydrogen fuel based Energy Company as well as similar company named Bloom Energy has seen a gain in the Tuesday trading session however some of the competitors in the fuel cell industry have slumped in the same trading session.

Wells Fargo’s series of new ratings

What distinguishes these fuel cell companies are the news updated stock ratings for the industry. Specifically investment bank Wells Fargo announced on 19th April that it has started covering Bloom Energy and has given it a rating of overweight which gave its stock performance a boost similarly Plug Power has been given an equal weight rating however it has outperformed In some of its operational portfolios which improved its stock value.

Reason behind FCEL stock performance slump

FuelCell energy on the other hand has been given by underweight rating by Wells Fargo which has lowered investors to lose some of their confidence in the stock. The reason for this analysis of downward growth trajectory is because the commercialization and marketing aspect of fuel cell is being surpassed by its competitors which gives it fewer competitive advantages and fewer incentives to make its stock look attractive.

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