FuelCell Energy (NASDAQ:FCEL) Stock Price Up 11.2% on Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price shot up 11.2% on Tuesday after Wells Fargo & Company raised their price target on the stock from $6.00 to $8.00. Wells Fargo & Company currently has an underweight rating on the stock. FuelCell Energy traded as high as $19.38 and last traded at $19.4520. 2,015,937 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 5,136,280 shares. The stock had previously closed at $17.50.

Other equities analysts have also recently issued research reports about the company. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Jefferies Financial Group increased their price target on FuelCell Energy from $7.20 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, June 10th. KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Canaccord Genuity Group upped their price objective on FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $15.04.

Hedge Funds Weigh In On FuelCell Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCEL. Rhumbline Advisers increased its holdings in shares of FuelCell Energy by 21.1% in the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after purchasing an additional 5,585 shares during the last quarter. Marshall Wace LLP bought a new position in shares of FuelCell Energy in the second quarter valued at about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of FuelCell Energy by 6.3% during 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 buying an additional 19,857 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 worth $103,000 after buying an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in shares of FuelCell Energy during the 2nd quarter worth about $216,000. 42.78% of the stock is owned by institutional investors.

FuelCell Energy Stock Performance

The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -3.00 and a beta of 2.42. The stock’s 50 day moving average is $15.16 and its 200 day moving average is $10.37. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data 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 ($0.01). The company had revenue of $35.59 million for 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 business earned ($1.79) earnings per share. Analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

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.