Benzinga | Sep 23, 2021 02:37PM EDT

Why FuelCell Shares Are Rising

FuelCell Energy Inc (NASDAQ:FCEL) shares are trading higher by 6.8% at $7.12. Strength could be in sympathy with Plug Power after Piper Sandler analyst Pearce Hammond upgraded Plug Power from Neutral to Overweight and announced a $33 price target.

FuelCell Energy shares also saw strength earlier in September after the clean energy manufacturing company gained following a bullish initiation from Wolfe Research.

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.