FuelCell Energy (NASDAQ:FCEL) Trading Up 9.6% – Still a Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price was up 9.6% on Wednesday . The stock traded as high as $19.07 and last traded at $19.0260. Approximately 4,169,143 shares were traded 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 Ratings Changes

Several analysts recently weighed in on FCEL shares. 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 note on Tuesday, March 10th. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Finally, Jefferies Financial Group set a $7.20 target price on FuelCell Energy and gave the company a “hold” rating in a research note on Tuesday, March 10th. Seven equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Stock Performance

The firm has a fifty day simple moving average of $10.41 and a 200 day simple moving average of $8.74. The company has a current ratio of 7.96, a quick ratio of 6.51 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -3.73 and a beta of 2.22.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Monday, March 9th. The energy company reported ($0.52) EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

Several large investors have recently added to or reduced their stakes in FCEL. Legal & General Group Plc acquired a new position in FuelCell Energy in the 4th quarter valued at approximately $21,149,000. CenterBook Partners LP acquired a new position in shares of FuelCell Energy in the 4th quarter worth approximately $9,348,000. Two Sigma Investments LP acquired a new position in shares of FuelCell Energy in the 3rd quarter worth approximately $5,348,000. Invesco Ltd. raised its holdings in shares of FuelCell Energy by 75.4% in the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after buying an additional 647,151 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in shares of FuelCell Energy by 162.3% in the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after buying an additional 553,660 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

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.