FuelCell Energy (NASDAQ:FCEL) Trading 18.3% Higher – Should You Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price traded up 18.3% during trading on Thursday . The company traded as high as $21.88 and last traded at $21.3930. Approximately 2,197,731 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 6,907,594 shares. The stock had previously closed at $18.08.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 16th. Canaccord Genuity Group upped 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. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Finally, B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $32.00 in a research report on Monday, June 29th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Stock Up 24.3%

The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $22.36 and its 200-day moving average is $13.78. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -3.43 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) EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The company had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same quarter in the previous year, the business posted ($1.79) earnings per share. On average, analysts anticipate that FuelCell Energy, Inc. will post -1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction dated 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 transaction, the executive vice president owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers boosted its holdings in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,585 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of FuelCell Energy during the second quarter valued at approximately $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after acquiring an additional 19,857 shares during the period. Bank of America Corp DE boosted its stake in FuelCell Energy by 31.9% in the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after acquiring an additional 4,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new stake in FuelCell Energy in the 2nd quarter valued at about $216,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.