FuelCell Energy, Inc. (FCEL) Stock Price & Analysis

FuelCell Energy, Inc. (FCEL) closed at USD 11.58 on Thursday, October 22, 2026, down 12.27% on the day. The US market is currently closed (pre-market); this is not a live price.

The prior close was USD 13.2; the Oct 22, 2026 session ranged USD 11.49–13.1 on volume of 11,331,220 shares. Market capitalization is $925.87M, with a 52-week range of USD 5.71–37.88 (NGM). Source: Nexqual, retrieved October 23, 2026 at 10:07 UTC.

Also available as compact Markdown for AI agents: nexqual.com/FCEL.md

Key facts (FCEL)

• Last four reported quarters (through Jul 31, 2026): revenue $154M, net income -$175M (-113.6% margin), free cash flow -$101M (SEC filings).
• Insider open-market sales, last ~7 months: 3 Form 4 filings, $138K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
• Insider open-market purchases, last ~7 months: 2 Form 4 filings, $742K; 0 by opportunistic insiders, 0 by routine insiders.
• Analysts: Hold (mean 2.73 on a 1–5 scale) (11 analysts), mean target USD 21.1 (range 8–32).
• Total return with dividends: 1Y +49.0% vs S&P 500 +14.9%; 5Y -94.7% vs S&P 500 +80.3%.
• Next earnings: 2026-09-02, EPS estimate USD -0.35, revenue estimate $46.5M.

Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (FCEL)

Fiscal years end Oct. EPS is split-adjusted.

Valuation (price ÷ last four quarters, through Jul 31, 2026) (FCEL)

P/S 6.0x · P/B 0.9x · FCF yield -10.92% · Earnings yield -18.91%

Insider sales (SEC Form 4, open-market, last ~7 months) (FCEL)

3 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.

% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).

Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

Insider purchases (SEC Form 4, open-market, last ~7 months) (FCEL)

2 purchases, $742K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.

Analysts (FCEL)

Consensus Hold (mean 2.73 on a 1–5 scale), 11 analysts; mean target USD 21.1 (low 8, high 32).

Rating changes, last 120 days:

Total return (dividends reinvested) (FCEL)

FCEL suppliers, customers and competitors (named in its 10-K)

Quoted from the company's 10-K filed Dec 18, 2025.

FCEL company outlook (results filed Sep 2, 2026)

• “We expect to begin delivery of the initial phase (Phase 0) consisting of 30 MW of generation capacity in the fourth quarter of fiscal year 2026.”
• “The planned deployment is expected to consist of six 12.5 MW FuelCell Energy Block systems, providing a modular, scalable power architecture designed to support the planned data center's power requirements.”
• “Formalized in a memorandum of understanding, Siemens will design and supply electrical balance of plant (EBOP) systems for FuelCell Energy installations, supporting faster, lower-cost deployment of fuel cells to 100+ MW commercial projects.”
• “This was primarily due to lower product revenue resulting from fewer module deliveries to customers in Korea compared to the comparable prior year quarter and lower generation revenue due to lower operating output from plants in our generation portfolio, including the 7.4 MW Groton Project at the U.S.”

Quoted word-for-word from the SEC 8-K results press release.

FCEL analyst estimates and revisions

Key Statistics (as of October 23, 2026 at 10:07 UTC)

Technical Analysis (FCEL)

Nexqual's technical model rates FCEL "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 10:07 UTC.

Analyst Ratings (FCEL)

Wall Street analysts rate FCEL "Hold" based on 11 analysts, with a mean price target of USD 21.1 (range USD 8–32), per Nexqual as of October 23, 2026 at 10:07 UTC.

Earnings (FCEL)

Recent Earnings History

Source: Nexqual, October 23, 2026 at 10:07 UTC.

Financials & Fundamentals (FCEL)

Source: Nexqual, October 23, 2026 at 10:07 UTC.

Financial Health Score (FCEL)

Nexqual rates FuelCell Energy, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 10:07 UTC.

Ownership (FCEL)

Source: Nexqual, October 23, 2026 at 10:07 UTC.

Leadership (FCEL)

FuelCell Energy, Inc. is led by Jason B. Few, President, CEO & Director, per Nexqual as of October 23, 2026 at 10:07 UTC.

Major Backers & Investors (FCEL)

Notable institutional backers of FuelCell Energy, Inc. include Two Sigma Investments, LP, Manager Directed Portfolios-Hood River Small-Cap Growth Fund, Encompass Capital Advisors, LLC, according to Nexqual as of October 23, 2026 at 10:07 UTC.

Active Investors

Index Funds (Passive)

Source: Nexqual, October 23, 2026 at 10:07 UTC.

From FuelCell Energy, Inc.'s Latest SEC 10-K Filing (filed 2025-12-18)

Key Strengths & Strategy (as disclosed to the SEC)

• Founded in 1969 and headquartered in Danbury, Connecticut, we manufacture and sell our proprietary molten carbonate fuel cell systems, which deliver large-scale, continuous clean power and advanced emissions management.
• We have a rich history of innovation dating back to our founding in 1969 as Energy Research Corporation, and our pioneering research in electrochemistry and materials science established the foundation for our proprietary carbonate fuel cell technology.
• We target three major market opportunities with our technology—distributed generation; carbon capture, utilization and sequestration; and distributed hydrogen.
• We have adopted a module-centric strategy to allow us to concentrate our resources on developing high-efficiency stacks and are seeking partnerships to further our commercialization efforts.

Partnerships

• If a project or project asset is sold, revenue from the sale is recognized and reflected in the Product revenues line item of our Consolidated Statements of Operations and Comprehensive Loss, and we recognize revenue separately for the long-term maintenance and service agreement with respect to the project over the term of that agreement.
• In June 2019, we entered into a license agreement with EMTEC to facilitate the further development of our carbon capture platform (the "EMTEC License Agreement").

Legal & Regulatory Risks (Item 1A, quoted)

• Our results of operations could vary as a result of changes to our accounting policies or the methods, estimates and judgments we use in applying our accounting policies.
• We may be affected by environmental and other governmental regulation.
• Our business currently benefits from the availability of rebates, tax credits and other financial programs and incentives, and changes to such benefits could cause our revenue to decline and harm our financial results.
• Risks Related to Our Need for Additional Capital

Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.

Peers & Related Stocks

Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:07 UTC. This page is informational and not investment advice.

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