FuelCell Energy (NASDAQ:FCEL) Stock Price Up 9.7% – Here’s What Happened

FuelCell Energy, Inc. (NASDAQ:FCEL) shares traded up 9.7% on Tuesday . The stock traded as high as $16.23 and last traded at $16.4050. 1,581,311 shares changed hands during trading, a decline of 78% from the average daily volume of 7,100,863 shares. The stock had previously closed at $14.95.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FCEL. Jefferies Financial Group reaffirmed a “buy” rating on shares of FuelCell Energy in a research report on Thursday, September 3rd. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday. Canaccord Genuity Group restated a “buy” rating and issued a $30.00 price target on shares of FuelCell Energy in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their price target on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 16th. Finally, UBS Group raised FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.00 to $27.00 in a research report on Tuesday, July 14th. 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Price Performance

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 business’s 50 day moving average price is $21.09 and its 200 day moving average price is $16.03. The stock has a market capitalization of $1.38 billion, a P/E ratio of -5.02 and a beta of 2.35.

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

Insider Buying and Selling at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at $75,162.78. This represents a 48.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.46% of the stock is owned by insiders.

Institutional Trading of FuelCell Energy

A number of hedge funds have recently bought and sold shares of FCEL. Rhumbline Advisers boosted its position in FuelCell Energy by 21.1% in 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 2nd quarter valued at about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FuelCell Energy by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after purchasing an additional 19,857 shares during the period. Bank of America Corp DE lifted its stake in shares of FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after purchasing an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in shares of FuelCell Energy in the second quarter worth approximately $216,000. 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.