NEW YORK, June 2, 2026, 13:06 (EDT)
- FuelCell Energy shares gained roughly 14% by midday Tuesday, bouncing back after falling on Monday.
- The move lands less than a week ahead of the company’s June 8 quarterly results.
- Options markets are pricing in a big move when earnings come out.
FuelCell Energy shares jumped Tuesday. The stock bounced back after a soft start to the week as traders got set for what could be a volatile earnings print from the clean-power firm.
Shares listed on the Nasdaq climbed 14.1% to $24.31 by midday in New York. The stock moved between $20.86 and $25.72 so far. About 7.9 million shares changed hands. The company’s market cap was close to $1.17 billion.
FuelCell is set to report fiscal Q2 results before the bell on June 8. Management’s call to go over earnings and update on the business starts at 10 a.m. Eastern.
FuelCell traders are positioning for a swing ahead of earnings, options data show. Investing.com said Monday, citing Bloomberg data, that options markets are pricing in a 17% move in FuelCell shares around the results. Options let buyers and sellers lock in a price for the stock, a common way to hedge or speculate on price swings.
FuelCell bounced back after Monday’s 1.6% loss, when shares finished at $21.31, missing out on a stronger session in U.S. stocks. MarketWatch said the stock had dropped for a second day as the Nasdaq Composite rose 0.42%.
Fuel-cell stocks are getting attention from investors looking for AI power exposure, not only clean energy. Bloom Energy, a big name with exposure to data centers, jumped almost 10% Tuesday. Plug Power was up around 4.2%. The iShares Global Clean Energy ETF, tracking clean-energy stocks, added about 1.7%.
Bloom Energy’s rise puts it in a new league. The Wall Street Journal said Monday that Bloom will move from the Russell 2000 to the Russell Top 200, after its stock rallied on growing demand for fuel cells to power data centers.
FuelCell is sticking with its current message. The company reported in March that first-quarter revenue jumped 61% to $30.5 million, and its net loss shrank to $26.1 million from $32.4 million a year ago. CEO Jason Few said FuelCell is aiming at the “defining opportunity of the AI era,” mentioning more than 1.5 gigawatts in new commercial proposals related to data center demand. FuelCell Energy
The company says its fuel-cell systems offer on-site power for data centers, factories and utilities. Unlike combustion, fuel cells use an electrochemical process to make electricity. That means power can be generated close to the user and with less emissions than typical fossil-fuel setups.
Governance also showed up Tuesday, but it wasn’t the main story. FuelCell said back on May 21 that John Livingston, a cybersecurity entrepreneur and ex-McKinsey adviser, joined its board. Livingston called FuelCell the “right place at the right time” as it targets behind-the-meter power for the AI economy. FuelCell Energy
FuelCell’s backlog dropped 10.8% from a year earlier to $1.17 billion at January’s end, and the company remains in the red. The risk now is that optimism is moving faster than signed contracts. If results on June 8 don’t show more proposals converted to firm deals, or if cash burn gets worse, Tuesday’s rally may not last.
Right now, FuelCell shares are moving more on hopes for future data-center power demand than on anything it’s locked in so far. Earnings next week will show if any of that optimism is making it into the results.
