FuelCell Energy (NASDAQ:FCEL) Raised to “Buy” at B. Riley Financial

FuelCell Energy (NASDAQ:FCEL) was upgraded by equities researchers at B. Riley Financial from a “neutral” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $32.00 price target on the energy company’s stock. B. Riley Financial’s price objective suggests a potential upside of 33.33% from the stock’s current price.

Several other brokerages have also issued reports on FCEL. Canaccord Genuity Group increased their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Jefferies Financial Group upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $24.00 in a report on Friday. UBS Group lifted their target price on shares of FuelCell Energy from $7.25 to $22.00 and gave the company a “neutral” rating in a report on Friday. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Wells Fargo & Company raised their price objective on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, FuelCell Energy currently has an average rating of “Hold” and an average price target of $22.00.

FuelCell Energy Stock Performance

NASDAQ FCEL opened at $24.00 on Monday. The firm has a market capitalization of $1.62 billion, a PE ratio of -3.65 and a beta of 2.42. The stock’s 50 day moving average is $17.93 and its 200 day moving average is $11.32. FuelCell Energy has a twelve month low of $3.78 and a twelve month high of $27.69. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The firm had revenue of $35.59 million during the quarter, compared to the consensus estimate 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 company posted ($1.79) EPS. Research analysts forecast that FuelCell Energy will post -1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc purchased a new stake in FuelCell Energy during the 4th quarter valued at $21,149,000. CenterBook Partners LP bought a new position in shares of FuelCell Energy during the fourth quarter valued at $9,348,000. Two Sigma Investments LP purchased a new stake in shares of FuelCell Energy during the third quarter valued at $5,348,000. Invesco Ltd. boosted its position in shares of FuelCell Energy by 75.4% during the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after buying an additional 647,151 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in FuelCell Energy by 162.3% in the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after buying an additional 553,660 shares in the last quarter. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

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.