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Benzinga
Benzinga
Business
Melanie Schaffer

FuelCell Energy Soars, Prints Strong Continuation Pattern: What's Next For The Stock?

FuelCell FCEL

FuelCell Energy, Inc (NASDAQ:FCEL) soare over 18% on Tuesday on higher-than-average volume, in continuation of a strong reversal to the upside Benzinga called out Feb. 9. The beaten-down stock could be at the beginning of a massive short squeeze due to its underlying statistics.

  • Ownership Levels: FuelCell has a high level of institutional ownership, with 42.53% of its float locked up.
  • High Short Interest: 68.52 million, meaning 18.69%, of FuelCell’s 353.39 million share float is held short. The number is up from 67.47 million shares held short in December.
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