Zacks Investment Research upgraded shares of FuelCell Energy (NASDAQ:FCEL) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants with virtually no air pollution and reduced greenhouse gas emissions using a variety of fuels including renewable biogas and domestically-available fuels like natural gas. “
Other analysts have also issued research reports about the stock. ValuEngine raised shares of FuelCell Energy from a hold rating to a buy rating in a report on Wednesday. B. Riley set a $4.00 price objective on shares of FuelCell Energy and gave the stock a buy rating in a report on Friday, September 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $3.50.
NASDAQ:FCEL opened at $1.06 on Wednesday. FuelCell Energy has a 12-month low of $1.00 and a 12-month high of $2.49. The company has a current ratio of 1.94, a quick ratio of 1.23 and a debt-to-equity ratio of 0.81.
FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Thursday, September 6th. The energy company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.01). The firm had revenue of $12.11 million for the quarter, compared to analyst estimates of $11.57 million. FuelCell Energy had a negative return on equity of 45.52% and a negative net margin of 36.18%. During the same period in the previous year, the business posted ($0.31) EPS. research analysts anticipate that FuelCell Energy will post -0.78 EPS for the current fiscal year.
In other news, Chairman John A. Rolls acquired 152,000 shares of the company’s stock in a transaction dated Wednesday, June 27th. The stock was bought at an average price of $1.31 per share, with a total value of $199,120.00. Following the completion of the acquisition, the chairman now owns 317,274 shares in the company, valued at approximately $415,628.94. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.11% of the company’s stock.
Several institutional investors have recently modified their holdings of FCEL. BlackRock Inc. increased its holdings in shares of FuelCell Energy by 385.2% in the second quarter. BlackRock Inc. now owns 4,820,953 shares of the energy company’s stock valued at $6,364,000 after purchasing an additional 3,827,437 shares in the last quarter. Levin Capital Strategies L.P. increased its holdings in shares of FuelCell Energy by 12.3% in the second quarter. Levin Capital Strategies L.P. now owns 2,698,703 shares of the energy company’s stock valued at $3,562,000 after purchasing an additional 296,075 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in FuelCell Energy by 244.0% in the second quarter. Bank of New York Mellon Corp now owns 259,660 shares of the energy company’s stock valued at $343,000 after acquiring an additional 184,181 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new position in FuelCell Energy in the second quarter valued at approximately $200,000. Finally, KBC Group NV boosted its stake in FuelCell Energy by 45.2% in the first quarter. KBC Group NV now owns 419,718 shares of the energy company’s stock valued at $726,000 after acquiring an additional 130,667 shares during the last quarter. 21.91% of the stock is owned by institutional investors and hedge funds.
About FuelCell Energy
FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company offers SureSource power plants, a tri-generation distributed hydrogen configuration that generates electricity, heat, and hydrogen for commercial, industrial, government, and utility customers; and fuel cell carbon capture solution for coal or gas-fired power plants.
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