FCEL Stock Soars on B. Riley Upgrade & Data Center Power Deal

Font: Financial Modeling Prep  • Jun 29, 2026

FuelCell Energy (NASDAQ:FCEL) Stock Soars on B. Riley Upgrade and Major Data Center Power Deal

• Analyst firm B. Riley upgraded FuelCell Energy (NASDAQ:FCEL) to a Buy rating, signaling strong market confidence in the clean energy provider.
• The company secured a significant $49 million financing package from EXIM to boost its international clean energy technology exports.
• A new commercial agreement with Fit Energy will supply up to 380 megawatts of on-site power for data centers, highlighting FuelCell Energy's expanding market reach.

FuelCell Energy (NASDAQ:FCEL), a leading company in the design, manufacture, and operation of advanced fuel cell power plants, continues to provide innovative clean energy solutions. On June 29, 2026, analyst firm B. Riley upgraded its rating for FuelCell Energy to a Buy from Neutral, reflecting positive sentiment around the company's future prospects. The stock price stood at $24.00 at the time of this significant rating change.

This upgrade follows several positive announcements from the company, further solidifying its position in the renewable energy sector. FuelCell Energy recently secured a substantial $49 million financing package from the Export-Import Bank of the United States (EXIM). This crucial financing is earmarked to help the company advance its exports of U.S. clean energy technology to international markets, expanding its global footprint.

The initial portion of this financing provides approximately $22 million, specifically supporting the delivery of five fuel cell blocks to Gyeonggi Green Energy in South Korea. This site is recognized as one of the largest fuel cell installations globally, underscoring FuelCell Energy's capability in large-scale sustainable energy projects. A second payment is anticipated in October 2026, ensuring continued progress.

Further boosting investor confidence and market presence, FuelCell Energy revealed a new commercial deal with Fit Energy. As highlighted by Benzinga, this strategic agreement is set to supply as much as 380 megawatts of reliable on-site power for data centers, a rapidly growing sector with high energy demands. The deal includes an upfront deposit for an initial 30 megawatts, demonstrating immediate commitment and potential for future expansion in data center solutions.

These positive developments collectively caused FuelCell Energy's stock to climb 24%, reaching $24.45. In contrast, competitor Bloom Energy (NYSE) saw its stock fall 13%. As noted by 24/7 Wall St., this shift is attributed to investors moving capital toward FuelCell Energy after the announcement of its significant new power agreement, recognizing its strong growth trajectory and enhanced investor confidence.