FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shot up 9.8% during mid-day trading on Monday . The company traded as high as $31.10 and last traded at $30.8630. Approximately 4,939,358 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 6,250,804 shares. The stock had previously closed at $28.11.
Wall Street Analysts Forecast Growth
FCEL has been the topic of several analyst reports. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Wall Street Zen lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $24.00 in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.
Read Our Latest Report on FCEL
FuelCell Energy Price Performance
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last posted its 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 ($0.01). The firm had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same quarter in the previous year, the business posted ($1.79) earnings per share. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -1.84 EPS for the current year.
Hedge Funds Weigh In On FuelCell Energy
Several large investors have recently made changes to their positions in FCEL. Kestra Advisory Services LLC bought a new stake in FuelCell Energy during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 worth $59,000 after acquiring an additional 7,080 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new stake in shares of FuelCell Energy in the fourth quarter worth $78,000. Franklin Resources Inc. acquired a new position in FuelCell Energy during the 4th quarter valued at $84,000. Finally, Optiver Holding B.V. acquired a new position in FuelCell Energy during the 1st quarter valued at $88,000. Institutional investors and hedge funds 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.
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