FuelCell Energy posted a Q2 loss of $1.45 per share on $35.6 million revenue, missing estimates and widened by a Groton plant impairment. Canaccord upgraded to Buy with a $30 target, citing a 4GW AI data center pipeline, 500MW factory ramp and 10.3% short interest, projecting near 100% upside.
FuelCell Energy reported a second-quarter loss of $1.45 per share on $35.6 million in revenue, missing analyst estimates for a $0.52 loss and $40.5 million in revenue. The wider loss stemmed primarily from a non-cash impairment charge related to the Groton power plant project serving the U.S. Navy Submarine Base.
Canaccord raised its rating on FuelCell Energy to Buy and boosted the price target to $30, highlighting a 4GW AI data center pipeline and a 500MW factory capacity ramp. The brokerage noted increasing conviction that a transformative data center deal is within reach, underpinning the near 100% upside potential.
Short interest in FuelCell Energy reached 10.3% of the float as of June 8, the highest level recorded in 2026, while shares have lost 37% over four sessions. Retail sentiment remains bearish despite a 10% premarket gain after the upgrade, with message volumes on trading platforms surging over 1,000%.
