FuelCell Energy (NASDAQ:FCEL) Shares Gap Up – Should You Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $9.94, but opened at $11.40. FuelCell Energy shares last traded at $11.0960, with a volume of 2,369,918 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Zacks Research downgraded FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company decreased their price target on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the stock a “hold” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, FuelCell Energy currently has an average rating of “Reduce” and an average price target of $8.24.

FuelCell Energy Stock Up 30.0%

The company has a market cap of $684.40 million, a P/E ratio of -1.85 and a beta of 1.41. The stock’s 50-day moving average price is $7.69 and its 200-day moving average price is $7.86. The company has a current ratio of 7.96, a quick ratio of 6.51 and a debt-to-equity ratio of 0.19.

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, topping analysts’ consensus estimates of ($0.68) by $0.16. The company had revenue of $30.53 million for the quarter, compared to analysts’ expectations of $42.22 million. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. As a group, research analysts forecast that FuelCell Energy, Inc. will post -1.98 EPS for the current year.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently made changes to their positions in FCEL. Rhumbline Advisers boosted its position in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,585 shares in the last quarter. Marshall Wace LLP bought a new position in shares of FuelCell Energy during the 2nd quarter worth about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of FuelCell Energy by 6.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after purchasing an additional 19,857 shares in the last quarter. Bank of America Corp DE boosted its position in shares of FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after purchasing an additional 4,435 shares in the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of FuelCell Energy during the 2nd quarter worth about $216,000. Institutional investors own 42.78% of the company’s stock.

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.