FuelCell Energy (NASDAQ:FCEL) Sets New 52-Week High – Should You Buy?

FuelCell Energy, Inc. (NASDAQ:FCEL) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $12.20 and last traded at $11.1510, with a volume of 1727160 shares changing hands. The stock had previously closed at $11.80.

Analysts Set New Price Targets

FCEL has been the topic of several research analyst reports. Zacks Research lowered FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the stock a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FuelCell Energy in a research note on Monday, December 29th. Finally, Wells Fargo & Company lowered their price target on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 10th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy presently has a consensus rating of “Reduce” and an average price target of $8.24.

FuelCell Energy Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51. The stock has a 50 day moving average price of $7.38 and a 200-day moving average price of $7.85. The stock has a market capitalization of $650.28 million, a price-to-earnings ratio of -1.76 and a beta of 1.41.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%.The firm had revenue of $30.53 million for the quarter, compared to analyst estimates of $42.22 million. On average, analysts forecast that FuelCell Energy, Inc. will post -1.98 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in FuelCell Energy during the fourth quarter worth approximately $29,000. Bank of America Corp DE lifted its position in FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after buying an additional 4,435 shares in the last quarter. Rhumbline Advisers lifted its position in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after buying an additional 5,585 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in 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, Independent Advisor Alliance purchased a new position in FuelCell Energy during the third quarter worth approximately $80,000. Hedge funds and other 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.