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FuelCell Energy Expands ATM Equity Program to $200 Million

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FuelCell Energy Expands ATM Equity Program to $200 Million

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Fuelcell Energy ( (FCEL) ) has shared an announcement.

On December 30, 2025, FuelCell Energy amended its Open Market Sale Agreement with a syndicate of sales agents including Jefferies, B. Riley Securities, Barclays, BMO Capital Markets, BofA Securities, Canaccord Genuity, Citigroup and Loop Capital Markets to raise the capacity of at-the-market common stock issuances to $200 million, excluding prior sales under the program. The amendment also formalized the exit of J.P. Morgan Securities, which had provided written notice terminating its participation effective December 24, 2025, potentially reshaping the company’s capital-raising framework while preserving access to multiple other distribution channels for future equity financing.

The most recent analyst rating on (FCEL) stock is a Sell with a $7.00 price target. To see the full list of analyst forecasts on Fuelcell Energy stock, see the FCEL Stock Forecast page.

Spark’s Take on FCEL Stock

According to Spark, TipRanks’ AI Analyst, FCEL is a Neutral.

Fuelcell Energy’s overall stock score reflects significant financial challenges, with persistent losses and negative cash flows being the most impactful factors. While there is notable revenue growth and strategic partnerships, the company’s valuation remains unattractive due to ongoing losses. Technical indicators are mixed, and the earnings call provides some positive outlook, but financial hurdles remain a concern.

To see Spark’s full report on FCEL stock, click here.

More about Fuelcell Energy

FuelCell Energy is a publicly traded company in the clean energy and power technology industry that develops and sells fuel cell-based solutions for distributed power generation and related energy applications, primarily targeting commercial, industrial and utility-scale customers seeking low-carbon and efficient energy systems.

Average Trading Volume: 3,567,440

Technical Sentiment Signal: Sell

Current Market Cap: $389.5M

See more insights into FCEL stock on TipRanks’ Stock Analysis page.

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