FuelCell Energy rises after Monday sell-off
FuelCell Energy, Inc. (Nasdaq: FCEL) shares are up slightly after the fuel cell maker’s stock fell more than 21% in abbreviated trading on Monday. The Danbury, Conn.-based firm reported that it was given preliminary approval for six of its fuel cells by a Connecticut public utility, but the approval fell short of some investors’ expectations.
In a note to investors released Monday, investment bank Canaccord Adams maintained a “buy” rating on FuelCell. Canaccord Adams analyst John Quealy noted that shares may be weak due to highly aggressive expectations.
In midday trading, FCEL shares are up 1%, or $0.10, at $10.16. Over the last 52 weeks, shares have ranged from $5.84 to $13.14.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
Read More
(click a star)
Enter comment: