FuelCell Energy Stock Surges 150% in October Amid AI Data Center Hype
FuelCell Energy's shares closed at $8.95 on October 31, capping a 15.8% daily gain and a staggering 150% monthly rally. The surge reflects broader enthusiasm for hydrogen and fuel cell technologies, fueled by speculation around AI data center power demands.
The company reported Q3 revenue of $46.7 million, doubling year-over-year, while maintaining a $1.245 billion backlog. Despite these metrics, Wall Street remains cautious, with analysts maintaining Hold ratings and price targets suggesting limited upside from current levels.
Market volatility remains extreme—the stock swung from $11.43 on October 14 to $7.73 by October 30, reflecting the sector's speculative nature. Federal policy risks loom, with Congress eliminating the 45V hydrogen tax credit after 2025, potentially undermining long-term project economics.
