Why FuelCell's Stock Is Falling Today

FuelCell Energy Inc FCEL shares are trading lower by 8% at $6.92 Wednesday afternoon, pulling back from yesterday's strength. The stock gained on Tuesday following Senate passage of an infrastructure bill, which is expected to benefit clean energy names.

Meanwhile, FuelCell Energy announced Monday that the company closed on a tax equity financing transaction with East West Bank for the 7.4 megawatts fuel cell project located on the U.S. Navy Submarine Base in Groton, CT.

FuelCell Energy says East West Bank's tax equity commitment totals $15 million. FuelCell Energy believes that this commitment further demonstrates the market's interest in financing fuel cell distributed sustainable energy platforms as the company works with customers to achieve their decarbonization and enhanced grid resiliency goals.

FuelCell Energy 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.

FuelCell Energy has a 52-week high of $29.44 and a 52-week low of $1.58.

See also: How to Buy FuelCell Energy (FCEL) Stock