FuelCell Energy (NASDAQ:FCEL) Hits New 52-Week High Following Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL) hit a new 52-week high during mid-day trading on Monday after B. Riley Financial upgraded the stock from a neutral rating to a buy rating. B. Riley Financial now has a $32.00 price target on the stock. FuelCell Energy traded as high as $30.29 and last traded at $29.2850, with a volume of 4484870 shares. The stock had previously closed at $24.00.

Several other brokerages also recently commented on FCEL. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. TD Cowen reaffirmed a “hold” rating and set a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. UBS Group lifted their price objective on FuelCell Energy from $7.25 to $22.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in shares of FuelCell Energy during the 4th quarter valued at $29,000. Bank of America Corp DE raised its holdings in 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. Rhumbline Advisers raised its holdings in FuelCell Energy by 21.1% in the 1st 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 period. Caitong International Asset Management Co. Ltd lifted its position in FuelCell Energy by 1,316.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares in the last quarter. Finally, Entropy Technologies LP lifted its position in FuelCell Energy by 28.6% during the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after purchasing an additional 8,336 shares in the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Up 15.3%

The company has a 50-day moving average of $17.93 and a two-hundred day moving average of $11.32. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The company has a market capitalization of $1.87 billion, a PE ratio of -4.19 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last issued 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 ($0.01). 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 analysts’ expectations of $40.47 million. During the same quarter in the previous year, the company earned ($1.79) EPS. Sell-side analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

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.