FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shares were up 14.3% on Monday . The stock traded as high as $14.50 and last traded at $15.6580. Approximately 1,527,922 shares were traded during trading, a decline of 52% from the average daily volume of 3,186,911 shares. The stock had previously closed at $13.70.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the stock a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen cut shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Zacks Research cut shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings cut shares of FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.24.
Get Our Latest Analysis on FuelCell Energy
FuelCell Energy Stock Up 16.0%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last issued its earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. The company had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $42.22 million. On average, equities research analysts predict that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new position in FuelCell Energy in the fourth quarter valued at about $29,000. Bank of America Corp DE increased its holdings in FuelCell Energy by 31.9% in the second 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 in the last quarter. Rhumbline Advisers increased its holdings in FuelCell Energy by 21.1% in the first 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 in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after buying an additional 7,080 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in FuelCell Energy in the third quarter valued at about $80,000. 42.78% of the stock is owned by hedge funds and other institutional investors.
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.
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