FuelCell Energy (NASDAQ:FCEL) Stock Price Up 8% – Still a Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price rose 8% during trading on Wednesday . The company traded as high as $21.25 and last traded at $20.7320. 2,422,895 shares were traded during trading, a decline of 65% from the average daily volume of 6,952,658 shares. The stock had previously closed at $19.20.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FCEL. TD Cowen reissued a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $32.00 in a research note on Monday, June 29th. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and boosted their target price for the company from $16.00 to $24.00 in a research note on Friday, June 26th. Finally, Canaccord Genuity Group upped their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, FuelCell Energy has a consensus rating of “Hold” and a consensus price target of $22.83.

FuelCell Energy Price Performance

The company has a fifty day simple moving average of $21.81 and a two-hundred day simple moving average of $14.77. 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 capitalization of $1.63 billion, a price-to-earnings ratio of -3.10 and a beta of 2.37.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The business had revenue of $35.59 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the company earned ($1.79) EPS. As a group, research analysts anticipate that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Transactions at FuelCell Energy

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 stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the sale, the executive vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of FuelCell Energy by 31,021.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company’s stock worth $1,078,000 after buying an additional 147,042 shares during the last quarter. First Trust Advisors LP acquired a new position in FuelCell Energy in the first quarter valued at $758,000. Dimensional Fund Advisors LP grew its position in FuelCell Energy by 459.1% during the first quarter. Dimensional Fund Advisors LP now owns 312,536 shares of the energy company’s stock valued at $2,040,000 after acquiring an additional 256,640 shares during the period. CenterBook Partners LP purchased a new stake in FuelCell Energy during the fourth quarter valued at about $9,348,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in FuelCell Energy by 1,173,840.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company’s stock worth $1,716,000 after acquiring an additional 234,768 shares during the last quarter. Institutional investors and hedge funds 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.