Why Is FCEL Stock Ripping Almost 6% Higher In Overnight Trading Today?

• The move in Fuelcell Energy’s shares comes from a surge in Bloom Energy’s stock prices after its blowout Q1 results. 
• FuelCell Energy is also slated to report Q2 results on June 5, with analysts expecting 11% revenue growth. 
• The firm recently said its business development pipeline had grown by 275% since February 2025, with most growth coming from data center customers.

Shares of Fuelcell Energy Inc. (FCEL) surged 5.6% in Wednesday’s overnight trading session, lifted higher by sectoral optimism and a surge in rival Bloom Energy Corp.’s (BE) stock.

The move reflects growing optimism about alternative power sources amid a boom in demand for artificial intelligence infrastructure. If gains hold, FCEL stock is headed for its best monthly performance in more than five years.

FCEL Rides BE’s Surge

Bloom Energy received a slew of Wall Street price target updates on Wednesday after its blockbuster first-quarter (Q1) results zoomed past Wall Street expectations. At least nine Wall Street analysts hiked their price targets on Bloom Energy.

RBC hiked its price target on Bloom to $335 from $143, while BTIG upped Bloom’s price target by $130 to $295, and Susquehanna raised its by $120 to $293. Susquehanna also said that demand for the company's quick time-to-power fuel cell solution was robust and noted management’s comment that the demand environment is accelerating.

The bullish bet on Bloom Energy spilled over, lifting sentiment around FuelCell Energy as investors expect the same demand tailwinds, such as rising alternative power requirements amid AI-driven growth, to extend across the fuel cell space.

FuelCell’s Strong Pipeline

In March, when the company announced the introduction of its standardized 12.5-megawatt power blocks for on-site data center deployment, the clean tech firm said its business development pipeline had grown by 275% since February 2025, with most growth coming from data center customers.

FuelCell Energy is also slated to report its second quarter (Q2) results on June 5, with analysts expecting the company to post 11% revenue growth to $41.64 million for Q2. If Bloom Energy’s results are any indication of sectoral performance, FuelCell is also likely to beat expectations.

What’s Retail Saying?

On Stocktwits, retail sentiment around FCEL stock jumped from ‘bullish’ to ‘extremely bullish’ over the past 24 hours as message volumes rose from ‘high’ to ‘extremely high’ levels.

One bullish user noted that the stock was rising because of Bloom Energy’s blowout earnings, which suggested, “this might be the next hot sub sector.”

Another bullish user said FCEL “will be the next BE.”

However, one bearish user warned that it was “extremely likely this drops big in the next day or 2,” noting that the stock was rising on BE’s earnings pump rather than on its own merits.

FCEL stock has surged more than 66% so far this year. Meanwhile, BE stock has gained more than 191% in the same time.

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Also Read: BE Vs FCEL: Which Renewable Energy Stock Is A Better Bet Amid AI Boom?