FuelCell Energy (FCEL)
Provides fuel-cell platforms and services for continuous power, hydrogen, and carbon-capture development.
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Proprietary molten-carbonate fuel-cell platforms provide continuous power and support hydrogen-production and carbon-capture development. Technology, manufacturing, and service activity span commercial energy applications.
Designs, manufactures, and services proprietary molten-carbonate fuel-cell platforms for continuous power. The platform also supports hydrogen-production and carbon-capture development, extending work beyond electricity generation. It provides engineering and service work that supports commercial deployment of these systems at customer sites.
Operations are rooted in Danbury, Connecticut, with a workforce concentrated in the United States and smaller teams in Canada, Germany, and South Korea. A settlement confirmed exclusive rights to sell platform technology across Asia, while POSCO retained rights to service its installed base. A restructuring refocused operating priorities on core technologies.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 15, 2026 | Citigroup | Initiate | Rating: — | |
| Sep 9, 2026 | Craig-Hallum | Initiate | Rating: —Target: $3 | Target: $22 |
| Sep 8, 2026 | Jefferies | Reiterate | Rating: —Target: $24 | Target: $20 |
| Jul 14, 2026 | Evercore ISI | Initiate | Rating: — | |
| Jul 14, 2026 | Stephens | Upgrade | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $658.1M · Total debt $178.7M · Total assets $1.31B · Shareholders' equity $975.1M
- Revenue
- $33.0M
- Operating income
- −$46.7M
- Net income
- −$44.5M
No dividends on record.
| Institutions | ≈ 50.35% | 40.26M shares | |
|---|---|---|---|
| 256 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.69% | 548.1K shares | |
| 10 holders · as of Sep 15, 2026 | |||
| Other | ≈ 48.96% | 39.15M shares | |
| remainder | |||
79.95M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 5.39% | 4.31M | as of Jun 30, 2026 |
Legal & General Group PLCInstitution | 3.03% | 2.42M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 2.92% | 2.33M | as of Jun 30, 2026 |
State Street CorpInstitution | 2.68% | 2.14M | as of Jun 30, 2026 |
Two Sigma Investments, LPInstitution | 2.58% | 2.06M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 14, 2026 | III Homer John Livingston | director | +16,404 | $15.05 |
| Jul 16, 2026 | III Homer John Livingston | director | +26,343 | $18.79 |
| Jul 6, 2026 | Shankar Achanta | officer: EVP, Chf. Product &Tech Ofc. | −2,500 | $28.71 |
| Apr 20, 2026 | Shankar Achanta | officer: EVP, Chf. Product &Tech Ofc. | −2,500 | $8.00 |
| Dec 22, 2025 | Betsy B. Bingham | director | −8,608 | $8.52 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| FuelCell Energy | $18.24 | +1.54% | $1.44B | — | — | 9.3 | −29.4% |
| Bloom Energy | $281.09 | +3.00% | $80.37B | 361.1 | 77.0 | 25.8 | +165.5% |
| Cummins | $525.32 | −1.77% | $73.79B | 27.3 | 15.9 | 2.1 | +9.4% |
| Median | 194.2 | 46.4 | 14.0 | +87.5% |