FuelCell Energy Inc (NASDAQ:FCEL) shares are trading lower amid overall market weakness as stocks continue to sell off following last week’s Fed rate hike decision. A gain in treasury yields has weighed on growth stocks, which has pressured tech and clean energy names.
The Federal Reserve last Wednesday raised its target fed funds rate by 0.5% on Wednesday to a new range of between 0.75% and 1.0%, its first rate hike of at least half a percentage point in more than 20 years.
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FuelCell designs, manufactures, sells, installs, operates and services fuel cell products, which efficiently convert chemical energy in fuels into electricity through a series of chemical reactions.
According to data from Benzinga Pro, FuelCell Energy has a 52-week high of $12.62 and a 52-week low of $3.40.
