13 Best Hydrogen and Fuel Cell Stocks to Buy According to Analysts

2. FuelCell Energy, Inc. (NASDAQ:FCEL)

Analysts’ Upside Potential as of June 13: 134.00%

Riley has maintained its Neutral rating on FuelCell Energy, Inc. (NASDAQ:FCEL) and reduced its price target from $9 to $8 in response to the company’s fiscal Q2 results.

The company mentioned that its recent cost-cutting initiatives resulted in a slight decrease in forecasts.

FuelCell has reduced its headcount by 22% and plans to reduce annualized cost by 30% in comparison to fiscal 2024. The company’s move toward stricter cost controls in the face of persistent operational difficulties is reflected in these initiatives. B. Riley’s updated forecast reflects cautious investor sentiment as FuelCell Energy, Inc. (NASDAQ:FCEL) works through its reorganization.

FuelCell Energy, Inc. (NASDAQ:FCEL) is a fuel cell power firm and one of the best hydrogen stocks. The company creates, manufactures, sells, installs, operates, and services fuel cell products and electrolysis platforms that reduce carbon emissions and generate hydrogen.

FuelCell Energy, Inc. (NASDAQ:FCEL) provides services to many industries, including commercial and hospitality, wastewater treatment, education and healthcare, data centers, and industrial. Geographically, the business is active in Europe, Canada, South Korea, and the United States. The USA and South Korea account for the majority of revenue.