Benzinga | Oct 5, 2020 02:31PM EDT

Why FuelCell's Stock Is Trading Lower Today

FuelCell (NASDAQ:FCEL) shares are trading lower on Monday after hearing that the company lost two of its largest generation contract awards valued at roughly $636 million.

FuelCell is a fuel-cell power company. FuelCell 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. It serves various industries such as Industrial, Wastewater treatment, Commercial and Hospitality, Data centers and Communications, Education and Healthcare, and others. Geographically, the company generates a majority of its revenue from the United States followed by South Korea.

FuelCell shares traded down 10.40% to $1.81 on Monday. The stock has a 52-week high of $3.50 and a 52-week low of 23 cents.