FuelCell Energy (NASDAQ:FCEL) Shares Up 18.3% – Still a Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price was up 18.3% during mid-day trading on Thursday . The stock traded as high as $21.88 and last traded at $21.3930. Approximately 2,197,731 shares traded hands during trading, a decline of 68% from the average session volume of 6,907,594 shares. The stock had previously closed at $18.08.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FCEL. Jefferies Financial Group upgraded 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 report on Friday, June 26th. Wells Fargo & Company raised their price target on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, June 16th. Canaccord Genuity Group lifted their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. UBS Group upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $27.00 in a report on Tuesday, July 14th. Finally, TD Cowen reaffirmed a “hold” rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, FuelCell Energy currently has an average rating of “Hold” and a consensus price target of $22.83.

FuelCell Energy Stock Performance

The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.29 and a beta of 2.31. 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 firm has a 50-day simple moving average of $22.24 and a two-hundred day simple moving average of $13.94.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The business had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $40.47 million. During the same quarter last year, the company earned ($1.79) earnings per share. On average, sell-side analysts anticipate that FuelCell Energy, Inc. 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 company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the sale, the executive vice president directly owned 2,618 shares of the company’s stock, valued at $75,162.78. This 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. 5.46% of the stock is currently owned by insiders.

Institutional Trading of FuelCell Energy

Large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of FuelCell Energy in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd grew 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 worth $59,000 after purchasing an additional 7,080 shares in the last quarter. KMG Fiduciary Partners LLC acquired a new position in FuelCell Energy during the 2nd quarter worth $324,000. Doliver Advisors LP acquired a new position in FuelCell Energy during the 2nd quarter worth $360,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in FuelCell Energy during the 4th quarter worth about $78,000. 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.