FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $23.62, but opened at $25.44. FuelCell Energy shares last traded at $22.9030, with a volume of 3,331,574 shares.
Analyst Ratings Changes
FCEL has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, June 16th. Jefferies Financial Group upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their target price for the stock from $16.00 to $24.00 in a report on Friday, June 26th. 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. UBS Group upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $22.00 to $27.00 in a research note on Tuesday, July 14th. Finally, TD Cowen reissued a “hold” rating and set a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Four 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, FuelCell Energy has an average rating of “Hold” and a consensus target price of $22.83.
Check Out Our Latest Stock Analysis on FuelCell Energy
FuelCell Energy Stock Down 2.4%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate 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 in the prior year, the company earned ($1.79) EPS. As a group, sell-side analysts forecast that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.
Insider Buying and Selling at FuelCell Energy
In other 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 transaction, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.46% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of FCEL. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of FuelCell Energy by 31,021.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company’s stock worth $1,078,000 after purchasing an additional 147,042 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in FuelCell Energy by 1,173,840.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company’s stock worth $1,716,000 after buying an additional 234,768 shares during the last quarter. CenterBook Partners LP bought a new stake in FuelCell Energy in the fourth quarter worth about $9,348,000. Legal & General Group Plc bought a new stake in FuelCell Energy in the fourth quarter worth about $21,149,000. Finally, Virtu Financial LLC boosted its stake in FuelCell Energy by 75.7% in the fourth quarter. Virtu Financial LLC now owns 85,655 shares of the energy company’s stock valued at $626,000 after acquiring an additional 36,910 shares during the last quarter. 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.
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