FuelCell Energy (NASDAQ:FCEL) Sees Strong Trading Volume Following Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL) shares saw unusually-strong trading volume on Tuesday after UBS Group upgraded the stock from a neutral rating to a buy rating. UBS Group now has a $27.00 price target on the stock, up from their previous price target of $22.00. 5,397,808 shares traded hands during trading, a decline of 18% from the previous session’s volume of 6,590,349 shares.The stock last traded at $21.3760 and had previously closed at $19.08.

A number of other analysts have also recently weighed in on the stock. Wall Street Zen cut shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Jefferies Financial Group upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and raised their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. Wells Fargo & Company lifted their price target on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, June 16th. Finally, TD Cowen reiterated 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. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.83.

Insider Buying and Selling

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the transaction, the executive vice president owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC bought a new stake in FuelCell Energy during the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its stake in FuelCell Energy by 1,316.0% during the 3rd 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. KMG Fiduciary Partners LLC bought a new position in FuelCell Energy during the 2nd quarter valued at $324,000. Doliver Advisors LP acquired a new position in shares of FuelCell Energy during the 2nd quarter valued at $360,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in shares of FuelCell Energy during the 4th quarter valued at $78,000. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Stock Up 12.9%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59. The company has a market cap of $1.46 billion, a P/E ratio of -3.28 and a beta of 2.31. The stock has a 50 day moving average price of $21.53 and a 200 day moving average price of $12.73.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). The firm had revenue of $35.59 million for the quarter, compared to the consensus estimate of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same period in the prior year, the business earned ($1.79) EPS. Research analysts expect 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.