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Shares of FuelCell Energy (NASDAQ:FCEL) were on the move to open the new - albeit shortened - trading week, spiking by eight percent on Tuesday after the company received some positive coverage by a couple of popular financial media outlets which are predicting that profitability may be a possibility for the company over the short term.

Concerns of profitability have weighed down the FCEL share price each time the stock has ran on encouraging news. Earlier this year news of a large cash infusion from a South Korean partner allowed FCEL to run towards the two dollar mark, but the push faded and shares subsequently dropped to well below the price of a recent stock offering.

It is precisely the relationship with Fuel Cell's Korean partner that has sparked positive coverage from both Forbes and Bloomberg over the past weeks. Forbes argued that the relationship has allowed FuelCell to solidify its pipeline and production expectations with enough volume where the company could achieve profitability at a manufacturing volume of 80 megawatts annually, approximately 30% higher than the current levels.

Bloomberg also piped in, citing the low prices of natural gas as a key factor in FuelCell's near term ability to reach profitability.

These predictions may be well within reach, as progress and the expansion of existing agreements materializes in both Asia and Europe. Earlier this month FuelCell announced the acquisition of key assets by its German subsidiary and a European joint venture that will improve the company's ability to leverage its technology to fuel growth on the European continent.

Additionally, an existing order in Korea will be accelerated in order to meet growing demand in the region.

Those news items were followed-up with a release by FuelCell this week announcing that existing customers have extended their service agreements in flock, helping to solidify the company's mid to long term revenue stream.

Like Capstone Turbine (NASDAQ:CPST), another company looking to take advantage of the global shift towards 'cleaner' energy production, FuelCell is primed to find itself in the middle of a potentially very lucrative trend.

Short interest had increased from the April to May period, but continued positive developments and coverage by high-profile media outlets could spark a modest round of short covering and may ultimately lead to a quick return to previously-traded levels - levels that might hold, given the reinvigorated and encouraging outlooks of prosperity for the company.

One to keep an eye on for those that might be looking for a clean energy pick or two. Also look for encouraging trends during the company's earnings call, slated for June 6th.

Disclosure: Long FCEL, CPST.
Source: Is FuelCell Energy On The Verge Of Profitability?