FuelCell Energy, Inc. (NASDAQ:FCEL) shares are trading lower Wednesday despite a lack of company news. Here’s a look at what’s going on.
What To Know:
FuelCell Energy shares are trading 5% lower at $1.69, setting a new 52-week low for the stock.
On July 27, FuelCell Energy announced the company had signed a long-term service agreement (LTSA) with Noeul Green Energy and has also established a memorandum of understanding (MOU) with Gyeonggi Green Energy. The agreements are focused on continuing stable fuel cell operations and advancing eco-friendly power generation in Korea.
FCEL has garnered attention from retail investors and short-sellers alike. According to data from Benzinga Pro, 15.09% of available FCEL shares are being sold short.
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FCEL Price Action: According to Benzinga Pro, FCEL shares are down by more than 5% at $1.69 at the time of publication.
Image: Mohamed_hassan from Pixabay
