FuelCell Energy (NASDAQ:FCEL) Trading Up 11.2% Following Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL) was up 11.2% on Tuesday after Wells Fargo & Company raised their price target on the stock from $6.00 to $8.00. Wells Fargo & Company currently has an underweight rating on the stock. FuelCell Energy traded as high as $19.38 and last traded at $19.4520. Approximately 2,015,937 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 5,136,280 shares. The stock had previously closed at $17.50.

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday. B. Riley Financial boosted their price target on shares of FuelCell Energy from $8.00 to $13.00 and gave the company a “neutral” rating in a report on Tuesday, June 9th. KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Jefferies Financial Group lifted their target price on FuelCell Energy from $7.20 to $16.00 and gave the stock a “hold” rating in a report on Wednesday, June 10th. Finally, TD Cowen restated a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, FuelCell Energy presently has an average rating of “Reduce” and an average target price of $15.04.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC acquired a new position in FuelCell Energy in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of FuelCell Energy by 1,316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of FuelCell Energy in the 4th quarter valued at about $78,000. Franklin Resources Inc. bought a new stake in shares of FuelCell Energy in the fourth quarter valued at about $84,000. Finally, Optiver Holding B.V. bought a new stake in shares of FuelCell Energy in the first quarter valued at about $88,000. 42.78% of the stock is owned by institutional investors.

FuelCell Energy Stock Up 14.6%

The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -3.00 and a beta of 2.42. The firm has a 50-day moving average price of $15.16 and a two-hundred day moving average price of $10.37.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same period in the prior year, the business posted ($1.79) EPS. As a group, sell-side analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

About FuelCell Energy

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.