Why FuelCell (FCEL) Shares Are Rising

FuelCell Energy Inc FCEL shares are trading higher by 7.14% to $2.55 Wednesday. The stock is trading higher in anticipation of the company's second-quarter earnings report, confirmed for Thursday's pre-market session.

Based on analyst consensus estimates, FCEL is projected to announce an earnings per share (EPS) loss of 7 cents, alongside a revenue of 25.45 million.

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The stock may also be experincing a short squeeze in anticipation of Thursday's earnings report. FCEL, with a total share float of 404.94 million, has 66.37 million shares sold short, accounting for a significant 16.39% of the total shares sold short.

FuelCell designs manufactures, sells, installs, operates and services fuel cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions.

According to data from Benzinga Pro, FCEL has a 52-week high of $5.50 and a 52-week low of $1.77.