Up 12% Last Week, What’s Next For FuelCell Energy Stock?

Up 12% Last Week, What’s Next For FuelCell Energy Stock?

The stock price of FuelCell Energy, a company that designs, manufactures, and operates fuel cell power plants that work on natural gas or biogas, has risen by 12% over the last week (five trading days), compared to the S&P 500 which was up 2. 5% over the same period. The stock also remains up by about 22% over the last month (about 21 trading days). There are a couple of factors driving the recent gains. Firstly, FuelCell published a smaller than anticipated loss for Q3 2021 in September, with its gross margins turning positive after several consecutive quarters in the red. The company's revenue growth rate was also better than expected, likely giving investors some confidence that the company could turn profitable as it continues to scale up. Separately, Plug Power PLUG , a high-profile player in the hydrogen market, announced multiple corporate partnerships last week and noted that its sales could rise to over $800 million in 2022 while rising to over $3 billion by 2025. This news appears to have lifted other hydrogen stocks, including FuelCell Energy. Now, is FCEL stock poised to grow? Based on our machine learning analysis of trends in the stock price over the