FuelCell Energy (NASDAQ:FCEL) Reaches New 1-Year High on Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL) reached a new 52-week high during trading on Monday after B. Riley Financial upgraded the stock from a neutral rating to a buy rating. B. Riley Financial now has a $32.00 price target on the stock. FuelCell Energy traded as high as $30.29 and last traded at $29.2850, with a volume of 4484870 shares. The stock had previously closed at $24.00.

A number of other analysts have also recently issued reports on FCEL. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Canaccord Genuity Group upped their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $16.00 to $24.00 in a report on Friday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, FuelCell Energy presently has a consensus rating of “Hold” and an average price target of $22.00.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in FuelCell Energy in the 4th quarter worth approximately $29,000. Bank of America Corp DE raised its holdings 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 acquiring an additional 4,435 shares in the last quarter. 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 valued at $147,000 after acquiring an additional 5,585 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of FuelCell Energy by 1,316.0% during 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 acquiring an additional 7,080 shares during the last quarter. Finally, Entropy Technologies LP grew its holdings in shares of FuelCell Energy by 28.6% in the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after purchasing an additional 8,336 shares in the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Performance

The business’s fifty day moving average is $17.93 and its two-hundred day moving average is $11.32. The stock has a market capitalization of $1.87 billion, a PE ratio of -4.19 and a beta of 2.42. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly 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 business had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $40.47 million. During the same period in the previous year, the company earned ($1.79) EPS. As a group, research analysts anticipate that FuelCell Energy, Inc. will post -1.84 EPS for the current fiscal year.

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.