What's Going On With FuelCell Energy Stock?

FuelCell Energy Inc FCEL shares are trading lower by 11.6% to 30 cents Thursday morning after the company announced a 1-for-30 reverse stock split of its common stock, effective on Friday at 5pm ET.

Post-split trading will start on November 11. The company says this reverse split aims to increase the stock’s bid price, helping the company meet Nasdaq's $1.00 minimum price requirement.

Following the split, every 30 shares will be consolidated into 1 share, with stockholders maintaining the same ownership percentage, minus adjustments for fractional shares, which will be paid out in cash.

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Clean energy-related stocks have also experienced weakness following Donald Trump's election victory. Investors are concerned that a Trump administration could roll back key incentives and regulatory support for the clean energy sector.

According to data from Benzinga Pro, FCEL has a 52-week high of $1.84 and a 52-week low of $0.29.