What's Going On With FuelCell (FCEL) Shares

FuelCell Energy Inc FCEL shares are trading lower by 5.94% to $2.06 Thursday afternoon. Shares of clean energy-related stocks are trading lower amid overall market weakness on concerns over further rate hikes. Dallas Fed president Logan said more rate hikes are likely necessary.

What Happened?

In the latest June FOMC Minutes, the Federal Reserve highlighted that while job market conditions remain tight, there were some signs of supply and demand in the labor market moving toward a better balance.

These new labor market data points arrive just one day before the highly anticipated non-farm payrolls report, which is set to be released Friday morning...Read More

What Else?

Clean energy manufacturing companies often require significant capital investments to establish and expand their operations. Higher interest rates can limit access to affordable financing options, making it more challenging for companies like FuelCell Energy to secure the necessary funds for capital-intensive projects. This can hinder their ability to scale up production and meet increasing demand.

According to data from Benzinga Pro, FCEL has a 52-week high of $5.50 and a 52-week low of $1.70.