FuelCell Energy (NASDAQ:FCEL) Stock Price Up 18.3% Following Analyst Upgrade

FuelCell Energy, Inc. (NASDAQ:FCEL) shares rose 18.3% on Tuesday 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, up from their previous price target of $13.00. FuelCell Energy traded as high as $34.50 and last traded at $35.2490. Approximately 4,748,457 shares were traded during mid-day trading, a decline of 20% from the average session volume of 5,952,396 shares. The stock had previously closed at $29.80.

Several other brokerages have also commented on FCEL. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. UBS Group lifted their price objective on FuelCell Energy from $7.25 to $22.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wells Fargo & Company increased their target price on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 16th. Finally, KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

Key Headlines Impacting FuelCell Energy

Here are the key news stories impacting FuelCell Energy this week:

• Positive Sentiment: FuelCell Energy secured a $49 million EXIM financing package to support delivery of five fuel cell blocks to Gyeonggi Green Energy in South Korea. The deal is viewed as non-dilutive capital, which investors like because it supports growth without issuing new shares. FuelCell Energy Secures $49 Million in EXIM Financing to Advance U.S. Clean Energy Exports
• Positive Sentiment: B. Riley upgraded FCEL to Buy and raised its price target to $32 from $13, reinforcing the idea that the stock may still have upside after the recent move. FCEL: B. Riley Ups FuelCell Energy to Buy on Datacenter Deal
• Positive Sentiment: Jefferies also upgraded FuelCell Energy to Buy, citing the company’s Fit Energy deal as a key part of its investment thesis, adding to the bullish analyst momentum. Here Is How to Play FuelCell Energy Stock After the Jefferies Upgrade
• Positive Sentiment: Market chatter also pointed to FuelCell’s South Korea expansion as a growth driver, with investors bidding up the stock ahead of the project financing and export-related news. FuelCell Energy (FCEL) Climbs 24% Ahead of South Korea Expansion
• Neutral Sentiment: FCEL has become a high-momentum hydrogen stock, with articles noting a monstrous quarterly rally and comparisons to other speculative clean-energy surges. That momentum can attract traders, but it also raises volatility risk. Pulling A Bloom? FCEL Stock’s Monster Quarter Rally Has Retail Comparing It To BE’s Playbook

Hedge Funds Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in FuelCell Energy during the 4th quarter worth approximately $29,000. Bank of America Corp DE boosted its stake in shares of FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after buying an additional 4,435 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after buying an additional 5,585 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of 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 worth $59,000 after buying an additional 7,080 shares in the last quarter. Finally, Entropy Technologies LP grew its position in shares of FuelCell Energy by 28.6% during the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock worth $245,000 after buying 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 Trading Up 23.6%

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 business’s 50 day moving average is $18.38 and its 200-day moving average is $11.47. The firm has a market cap of $2.49 billion, a P/E ratio of -5.64 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results 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 ($0.01). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The company had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same period in the prior year, the company earned ($1.79) earnings per share. As a group, analysts forecast 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.