FuelCell Energy (NASDAQ:FCEL) Coverage Initiated at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of FuelCell Energy (NASDAQ:FCEL) in a report issued on Wednesday, Briefing.com reports. The firm set a “buy” rating and a $22.00 price target on the energy company’s stock. Craig Hallum’s price target would suggest a potential upside of 23.87% from the company’s previous close.

FCEL has been the topic of a number of other reports. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Wells Fargo & Company lifted their target price on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, June 16th. TD Cowen restated a “hold” rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Canaccord Genuity Group reiterated a “buy” rating and issued a $30.00 price objective on shares of FuelCell Energy in a research note on Thursday, September 3rd. Finally, Wall Street Zen cut shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $22.14.

FuelCell Energy Trading Up 18.8%

Shares of FuelCell Energy stock opened at $17.76 on Wednesday. FuelCell Energy has a 1-year low of $4.16 and a 1-year high of $37.88. The stock has a market cap of $1.42 billion, a P/E ratio of -5.18 and a beta of 2.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.67 and a quick ratio of 7.77. The stock’s 50 day simple moving average is $20.73 and its 200-day simple moving average is $16.11.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results on Wednesday, September 2nd. The energy company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.23). FuelCell Energy had a negative return on equity of 16.85% and a negative net margin of 113.60%.The firm had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $38.79 million. Analysts predict that FuelCell Energy will post -1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.71, for a total transaction of $71,775.00. Following the completion of the sale, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.46% of the stock is currently owned by insiders.

Institutional Trading of FuelCell Energy

Several institutional investors have recently modified their holdings of FCEL. Allworth Financial LP boosted its holdings in shares of FuelCell Energy by 444.4% in the 2nd quarter. Allworth Financial LP now owns 1,301 shares of the energy company’s stock valued at $47,000 after buying an additional 1,062 shares in the last quarter. NewEdge Advisors LLC boosted its stake in FuelCell Energy by 301.3% in the second quarter. NewEdge Advisors LLC now owns 1,605 shares of the energy company’s stock valued at $58,000 after acquiring an additional 1,205 shares in the last quarter. Hollencrest Capital Management acquired a new position in FuelCell Energy in the second quarter valued at $90,000. Integrated Wealth Concepts LLC purchased a new position in shares of FuelCell Energy during the second quarter worth about $120,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of FuelCell Energy during the fourth quarter worth about $29,000. Hedge funds and other 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.