FuelCell Energy (NASDAQ:FCEL) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of FuelCell Energy (NASDAQ:FCEL) from a sell rating to a hold rating in a research note released on Saturday.

A number of other research firms also recently commented on FCEL. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $32.00 in a report on Monday, June 29th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Canaccord Genuity Group increased their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Finally, 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 report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.83.

FuelCell Energy Price Performance

FCEL opened at $21.61 on Friday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of -3.29 and a beta of 2.31. FuelCell Energy has a 1 year low of $3.78 and a 1 year high of $37.88. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The stock has a fifty day moving average price of $22.24 and a 200 day moving average price of $13.94.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. During the same quarter last year, the firm earned ($1.79) EPS. Analysts forecast that FuelCell Energy will post -1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, the executive vice president directly owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of FuelCell Energy in the fourth quarter valued at approximately $21,149,000. CenterBook Partners LP acquired a new stake in shares of FuelCell Energy in the fourth quarter worth $9,348,000. Two Sigma Investments LP bought a new position in FuelCell Energy during the third quarter worth $5,348,000. Invesco Ltd. raised its stake in FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after purchasing an additional 647,151 shares during the last quarter. Finally, Trexquant Investment LP raised its stake in FuelCell Energy by 162.3% during the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock valued at $6,541,000 after purchasing an additional 553,660 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.

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.