FuelCell Energy (NASDAQ:FCEL) Trading Up 9.9% – Still a Buy?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) traded up 9.9% on Thursday . The stock traded as high as $24.24 and last traded at $24.69. 1,976,599 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 6,830,404 shares. The stock had previously closed at $22.47.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FCEL shares. KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. TD Cowen reissued 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. Canaccord Genuity Group lifted their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $16.00 to $24.00 in a report on Friday, June 26th. Finally, Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Trading Up 6.4%

The company has a fifty day moving average of $22.25 and a two-hundred day moving average of $13.33. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -3.62 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last announced 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 ($1.05). The firm had revenue of $35.59 million during the quarter, compared to analyst estimates 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 firm posted ($1.79) earnings per share. On average, research analysts expect that FuelCell Energy, Inc. will post -1.84 EPS for the current year.

Insider Activity

In other news, EVP Shankar Achanta sold 2,500 shares of the business’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 directly owned 2,618 shares in the company, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.46% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FuelCell Energy

A number of institutional investors have recently added to or reduced their stakes in FCEL. Kestra Advisory Services LLC acquired a new position in FuelCell Energy during the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of FuelCell Energy by 1,316.0% in 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 buying an additional 7,080 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in FuelCell Energy during the fourth quarter worth $78,000. Franklin Resources Inc. purchased a new position in FuelCell Energy in the fourth quarter worth $84,000. Finally, Optiver Holding B.V. purchased a new position in FuelCell Energy in the first quarter worth $88,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.