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FuelCell Energy, Inc. (FCEL) on Wednesday announced a CFO transition and reaffirmed its previously stated target of achieving positive Adjusted EBITDA in the fiscal 2027 fourth quarter, subject to certain conditions.
The company appointed Matthew Latino as executive vice president, CFO and treasurer effective Oct. 7, as part of a planned transition succeeding outgoing CFO Michael Bishop.
Latino previously spent 14+ years at Xylem Inc. (XYL), where he most recently served as senior vice president, Finance and Segment CFO of its nearly $2 billion Measurement & Control Solutions business.
Latino began his career at Deloitte & Touche LLP.
Michael Bishop, who served as the CFO for 15 years and spent more than 20 years at FuelCell Energy, will remain with the company as a senior advisor through its 2027 Annual Meeting of Stockholders to support the transition.
FuelCell Energy CEO Jason Few emphasized Latino's experience in spearheading finance for a large industrial technology business and leading investor relations for Xylem.
FuelCell Energy also reaffirmed its previously stated target of achieving positive adjusted EBITDA results in the fourth quarter of fiscal 2027.
The outlook is dependent on increasing the company's planned annualized production rate, conversion of awarded capacity backlog into committed backlog, customer delivery schedules and continued execution of cost reduction initiatives.
The company reiterated its focus on converting its growing commercial pipeline, driven by power demand for AI and data center infrastructure.
FuelCell Energy plans to scale manufacturing, advance customer financing structures and maintain disciplined capital allocation, liquidity and balance sheet strength.
During its fiscal 2026 third-quarter results, revenue reached $33.0 million, compared to $46.7 million a year earlier, a decrease of approximately 29%.
Also, it reported an adjusted EBITDA loss of $36.7 million in the third quarter, compared to an adjusted EBITDA loss of $16.4 million in the previous year.
Cash and cash equivalents and restricted cash and cash equivalents totaled $737.3 million as of July 31.
FCEL is trading above its shorter-term trend gauges, sitting about 13.1% above the 20-day SMA ($16.95) and about 3.8% above the 50-day SMA ($18.47), which keeps the near-term bias constructive.
However the stock remains about 5.3% below the 100-day SMA ($20.25), hence a $20-area supply is still acting like an overhead "speed bump."
MACD is above its signal line and the histogram is positive, which points to improving upside pressure versus the prior downswing.
Bigger-picture trend structure is mixed but still favorable: the 50-day SMA is above the 200-day SMA (a golden cross that occurred in October 2025), which typically supports longer-term dip-buying.
At the same time, the 20-day SMA is still below the 50-day SMA (a bearish crossover), highlighting that the most recent leg higher hasn't fully reset into a clean short-term uptrend.
The stock is well off its 52-week low of $5.71 and below the 52-week high of $37.88.
Key support sits near $15.50, an area where buyers previously stepped in.
The stock carries a Buy rating with an average price forecast of $21.78. Recent analyst moves include:
The MarketDash Edge scorecard highlights FuelCell Energy's strong momentum.
Its Momentum score stands at 98.43, reflecting that the stock is showing strong relative strength, consistent with its 12-month gain of 102.65%.
The setup reveals a momentum-driven story, with price action that has stayed resilient even as the broader premarket tone is risk-off.
FCEL Stock Price Activity: FuelCell Energy shares are trading lower by 14.48% at $17.66 at the time of publication on Wednesday, according to market data.
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