FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shares were up 9.1% during mid-day trading on Friday . The company traded as high as $18.81 and last traded at $18.83. Approximately 3,834,039 shares traded hands during trading, a decline of 43% from the average daily volume of 6,723,344 shares. The stock had previously closed at $17.26.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on FCEL. Canaccord Genuity Group raised 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. TD Cowen reaffirmed a “hold” rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and boosted their target price for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. Finally, UBS Group raised FuelCell Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.00 to $27.00 in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, FuelCell Energy has an average rating of “Hold” and a consensus price target of $22.83.
Check Out Our Latest Research Report on FCEL
FuelCell Energy Stock Up 8.6%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $40.47 million. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.During the same quarter last year, the business posted ($1.79) EPS. As a group, analysts predict that FuelCell Energy, Inc. will post -1.84 EPS for the current year.
Insider Buying and Selling at FuelCell Energy
In other news, EVP Shankar Achanta sold 2,500 shares of the 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.46% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On FuelCell Energy
A number of hedge funds have recently modified their holdings of FCEL. Kestra Advisory Services LLC purchased a new position in FuelCell Energy in the fourth quarter valued at approximately $29,000. Bank of America Corp DE increased its position 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 worth $103,000 after buying an additional 4,435 shares during the last quarter. Rhumbline Advisers increased its position in FuelCell Energy by 21.1% in 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 during the last quarter. Caitong International Asset Management Co. Ltd raised 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 valued at $59,000 after buying an additional 7,080 shares during the period. Finally, Entropy Technologies LP raised its stake in shares of FuelCell Energy by 28.6% in the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after buying an additional 8,336 shares during the period. 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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