Why FuelCell Energy Stock Rocketed Higher Today
This fuel cell company just took a step toward replenishing its shrinking backlog.
By Scott Levine
Bouncing back from closing 10.5% lower yesterday compared to Monday's close, FuelCell Energy (FCEL 0.50%) stock is soaring today. The company announced a supply agreement with a developer of data center infrastructure this morning, motivating investors to power their portfolios with shares of the fuel cell specialist.
As of 10:40 a.m ET, shares of FuelCell Energy are up 6.4%, retreating from an earlier rise of 15.5%.
This data center deal is charging up investors' enthusiasm
FuelCell Energy announced an agreement with Fit Energy, a developer of power solutions suited for advanced computing infrastructure and artificial intelligence (AI), for up to 380 megawatts (MW) of on-site power for data centers using FuelCell Energy's fuel cell technology.
Having received an immediate deposit for an initial 30 MW of fuel cell systems, FuelCell Energy plans on commencing deliveries later this year.
Earlier this month, FuelCell Energy reported second-quarter 2026 financial results, including a sales pipeline that totaled four gigawatts, representing a 267% quarter-over-quarter increase.
What's a fuel cell-focused investor to do with today's news?
With the company's announcement of a promising agreement, it's unsurprising that investors are bidding up FuelCell Energy stock today -- especially since it reported a 9.9% decrease in its backlog to $1.14 billion as of April 30, 2026, from the same time last year.
While the news today is positive, FuelCell Energy stock remains an extremely speculative investment. The company consistently fails to generate both profits and positive operating cash flow. For these reasons, the stock should remain a consideration only for those with robust risk tolerances. Fortunately, for those interested in hydrogen stock exposure, there are plenty of other options.