What's Going On With FuelCell Energy Stock?

FuelCell Energy, Inc. FCEL shares are trading higher Wednesday, though the stock remains down by more than 30% over the past month. The stock climbed Wednesday amid strength in EV-related stocks after several EV makers, including Tesla, reported vehicle delivery figures this week.

The move may also be aided by retail investors as they pile into heavily-shorted stocks on a holiday-shortened trading week. According to data from Benzinga Pro, 22.12% of available shares are being sold short and more than 25 million shares have already been traded in the session. 

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FuelCell Energy announced last week the University of Connecticut (UConn) will use its solid oxide fuel cell technology for its Innovation Partnership Building.

Four of FuelCell's 250-kilowatt solid oxide fuel cells will be used to provide power and thermal energy to support current and planned future demand of the building and allow it to operate independently from the local utility grid.

Should I Sell My FCEL Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of FuelCell Energy have lost 70.5% year to date. This compares to the average annual return of -58.49%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. FuelCell Energy stock currently has an RSI of 4.86, indicating oversold conditions.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

FCEL Price Action: According to Benzinga Pro, FuelCell Energy shares are up 9.9% at 65 cents at the time of publication Wednesday.

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Image: from Pixabay