FuelCell Energy (NASDAQ:FCEL) Shares Up 8% – Here’s What Happened

FuelCell Energy, Inc. (NASDAQ:FCEL) shares traded up 8% on Wednesday . The company traded as high as $21.25 and last traded at $20.7320. 2,422,895 shares traded hands during trading, a decline of 65% from the average session volume of 6,952,658 shares. The stock had previously closed at $19.20.

Analyst Ratings Changes

FCEL has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and increased their price objective for the stock from $16.00 to $24.00 in a research report on Friday, June 26th. TD Cowen restated a “hold” rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings raised FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. UBS Group upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $27.00 in a report on Tuesday, July 14th. Finally, B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $32.00 in a report on Monday, June 29th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy currently has a consensus rating of “Hold” and an average target price of $22.83.

FuelCell Energy Stock Performance

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 company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.24 and a beta of 2.37. The stock’s fifty day simple moving average is $21.83 and its 200-day simple moving average is $14.61.

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 the consensus estimate of $0.52 by ($1.05). The business had revenue of $35.59 million during the quarter, compared to analyst estimates 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 last year, the firm earned ($1.79) EPS. Analysts predict that FuelCell Energy, Inc. will post -1.73 EPS for the current year.

Insider Transactions at FuelCell Energy

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the sale, the executive vice president owned 2,618 shares of the company’s stock, valued at $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new position in FuelCell Energy during the fourth quarter worth about $29,000. Bank of America Corp DE increased its stake in shares of FuelCell Energy by 31.9% during the 2nd 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. Rhumbline Advisers increased its stake in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after acquiring an additional 5,585 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of FuelCell Energy by 1,316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after acquiring an additional 7,080 shares during the period. Finally, Entropy Technologies LP boosted its position in shares of FuelCell Energy by 28.6% in the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock worth $245,000 after acquiring an additional 8,336 shares during the last quarter. 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.