Danbury clean-energy generator FuelCell Energy Inc.’s is back trading above a dollar, ending the threat of having its stock delisted from the Nasdaq exchange, a regulatory filing shows.
According to FuelCell’s 8-K filing Friday with the Securities and Exchange Commission, Nasdaq informed FuelCell late Thursday that it had regained compliance with the minimum bid price listing rule, and that the matter is now closed.
Companies whose stocks fall under delisting pressure due to pricing that fall bellow exchanges’ minimum thresholds sometimes must take steps to boost their stock prices, among them reverse-stock splits or share buybacks.
FuelCell did not indicate in its SEC filing taking any steps beyond allowing its shares to trade as they normally do, allowing the market to reset it stock price back above $1.
Nasdaq warned FuelCell in November that the company’s stock price had fallen below the exchange’s $1-a-share trade price threshold, and the Danbury firm had 180 days, from Oct. 19, to correct the deficiency.
Since the Nasdaq warning, FuelCell’s shares crossed the $1 threshold six times before crossing it again on Jan. 3. The stock price has remained above $1 since, and traded at $1.13 at mid-afternoon Friday.
