FuelCell Energy (NASDAQ:FCEL) Shares Gap Up – What’s Next?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price gapped up before the market opened on Monday . The stock had previously closed at $18.50, but opened at $19.33. FuelCell Energy shares last traded at $19.3640, with a volume of 2,084,987 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Canaccord Genuity Group lifted their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. B. Riley Financial raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $32.00 in a research report on Monday, June 29th. Wall Street Zen cut shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, FuelCell Energy has a consensus rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Stock Performance

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 business has a 50 day moving average price of $22.20 and a 200 day moving average price of $13.22. The stock has a market capitalization of $1.46 billion, a PE ratio of -3.29 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($1.05). The company had revenue of $35.59 million during the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned ($1.79) EPS. As a group, equities research analysts expect that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Insider Transactions at FuelCell Energy

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in FuelCell Energy during the 4th quarter valued at $29,000. Caitong International Asset Management Co. Ltd raised its stake in shares of FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares during the last quarter. KMG Fiduciary Partners LLC purchased a new position in shares of FuelCell Energy in the second quarter worth $324,000. Doliver Advisors LP bought a new position in shares of FuelCell Energy during the second quarter valued at $360,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in shares of FuelCell Energy during the fourth quarter valued at $78,000. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

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.