FuelCell Energy (NASDAQ:FCEL) Rating Increased to Buy at UBS Group

FuelCell Energy (NASDAQ:FCEL) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a $27.00 price objective on the energy company’s stock, up from their prior price objective of $22.00. UBS Group’s price target indicates a potential upside of 41.51% from the stock’s current price.

A number of other analysts also recently weighed in on FCEL. TD Cowen restated a “hold” rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Wells Fargo & Company upped their price target on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday, June 16th. Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and increased their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Finally, B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.83.

FuelCell Energy Trading Down 9.3%

FCEL opened at $19.08 on Tuesday. 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 has a fifty-two week low of $3.78 and a fifty-two week high of $37.88. The company’s 50 day moving average price is $21.53 and its two-hundred day moving average price is $12.73. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of -2.90 and a beta of 2.31.

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 the consensus estimate of $0.52 by ($1.05). 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 net margin of 132.41% and a negative return on equity of 15.90%. During the same period in the previous year, the business posted ($1.79) EPS. As a group, research analysts predict that FuelCell Energy will post -1.84 earnings per share for the current year.

Insider Transactions at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC acquired a new position in shares of FuelCell Energy in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd grew its stake in FuelCell Energy by 1,316.0% during 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 period. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in FuelCell Energy during the fourth quarter worth approximately $78,000. Franklin Resources Inc. bought a new stake in FuelCell Energy in the fourth quarter worth approximately $84,000. Finally, Optiver Holding B.V. bought a new stake in FuelCell Energy in the first quarter worth approximately $88,000. 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.