FuelCell Energy (NASDAQ:FCEL) Trading 9.6% Higher – What’s Next?

FuelCell Energy, Inc. (NASDAQ:FCEL) shares were up 9.6% on Wednesday . The stock traded as high as $19.07 and last traded at $19.0260. Approximately 4,169,143 shares traded hands during trading, an increase of 4% from the average daily volume of 4,011,220 shares. The stock had previously closed at $17.36.

Analyst Upgrades and Downgrades

FCEL has been the subject of several recent analyst reports. Weiss Ratings cut FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company decreased their target price on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 target price on FuelCell Energy and gave the stock a “hold” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Seven analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $8.24.

FuelCell Energy Trading Up 15.3%

The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -2.90 and a beta of 2.22. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The business has a 50-day moving average of $9.77 and a 200-day moving average of $8.53.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. The firm had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $42.22 million. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%. As a group, research analysts forecast that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently bought and sold shares of FCEL. Rhumbline Advisers increased its stake in shares of FuelCell Energy by 21.1% in the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,585 shares during the period. Marshall Wace LLP bought a new position in FuelCell Energy during the second quarter valued at about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock valued at $1,877,000 after acquiring an additional 19,857 shares during the period. Bank of America Corp DE increased its stake in FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after acquiring an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in FuelCell Energy during the second quarter valued at about $216,000. 42.78% of the stock is currently owned by institutional investors.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.