FuelCell Energy (NASDAQ:FCEL) Trading Up 9.8% – Still a Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price rose 9.8% during mid-day trading on Monday . The stock traded as high as $31.10 and last traded at $30.8630. Approximately 4,939,358 shares traded hands during trading, a decline of 21% from the average session volume of 6,250,804 shares. The stock had previously closed at $28.11.

Wall Street Analyst Weigh In

FCEL has been the subject of several research reports. TD Cowen reiterated a “hold” rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. Wells Fargo & Company lifted their price objective on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, June 16th. Weiss Ratings raised FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price objective for the company from $16.00 to $24.00 in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.00.

FuelCell Energy Stock Performance

The firm has a market cap of $2.09 billion, a P/E ratio of -4.73 and a beta of 2.31. The stock’s 50 day moving average is $20.11 and its two-hundred day moving average is $12.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20.

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

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently modified their holdings of FCEL. Optiver Holding B.V. acquired a new position in FuelCell Energy during the 1st quarter worth $88,000. Bank of America Corp DE raised its position in shares of FuelCell Energy by 1,298.3% during the first quarter. Bank of America Corp DE now owns 190,724 shares of the energy company’s stock worth $1,245,000 after acquiring an additional 177,084 shares during the last quarter. Amundi raised its position in shares of FuelCell Energy by 118.4% during the first quarter. Amundi now owns 50,947 shares of the energy company’s stock worth $333,000 after acquiring an additional 27,621 shares during the last quarter. Entropy Technologies LP lifted its stake in shares of FuelCell Energy by 28.6% during the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after acquiring an additional 8,336 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of FuelCell Energy during the first quarter valued at $758,000. 42.78% of the stock is owned by institutional investors.

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.