Why FuelCell Energy (FCEL) Stock Hit A New 52-Week Low Today

FuelCell Energy Inc FCEL shares are trading lower by 11% to 26 cents Friday morning. The company this week announced a 1-for-30 reverse split of its common stock, effective on Friday at 5pm ET.

What To Know: Trading post-split will begin on November 11. According to the company, this reverse split is intended to boost the stock's bid price, enabling compliance with Nasdaq's $1.00 minimum price requirement.

After the split, every 30 shares will be consolidated into a single share, preserving each stockholder’s ownership percentage, with adjustments made for fractional shares, which will be paid out in cash.

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Clean energy-related stocks have also experienced weakness following Donald Trump’s election victory. Investors are concerned that a Trump administration could roll back key incentives and regulatory support for the clean energy sector.

According to data from Benzinga Pro, FCEL has a 52-week high of $1.84 and a 52-week low of $0.26.