FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shares rose 9.7% on Tuesday . The company traded as high as $16.23 and last traded at $16.4050. 1,581,311 shares were traded during trading, a decline of 78% from the average daily volume of 7,100,863 shares. The stock had previously closed at $14.95.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on FCEL shares. Canaccord Genuity Group reissued a “buy” rating and issued a $30.00 price target on shares of FuelCell Energy in a research note on Thursday, September 3rd. UBS Group upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $22.00 to $27.00 in a report on Tuesday, July 14th. TD Cowen reissued a “hold” rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Wells Fargo & Company raised their target price on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, FuelCell Energy presently has an average rating of “Hold” and a consensus price target of $22.83.
View Our Latest Stock Analysis on FuelCell Energy
FuelCell Energy Price Performance
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its earnings results on Wednesday, September 2nd. The energy company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.23). FuelCell Energy had a negative net margin of 113.60% and a negative return on equity of 16.85%. The business had revenue of $33.00 million for the quarter, compared to the consensus estimate of $38.79 million. As a group, analysts anticipate that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.
Insiders Place Their Bets
In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction on Monday, July 6th. The stock was 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 owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.46% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On FuelCell Energy
Institutional investors and hedge funds have recently modified their holdings of the stock. Carlson Financial Inc. purchased a new position in shares of FuelCell Energy in the 2nd quarter worth about $344,000. California State Teachers Retirement System bought a new stake in FuelCell Energy during the 2nd quarter valued at about $970,000. Headlands Technologies LLC bought a new stake in FuelCell Energy during the 2nd quarter valued at about $734,000. Two Sigma Securities LLC purchased a new position in FuelCell Energy in the second quarter worth about $382,000. Finally, Hollencrest Capital Management purchased a new position in FuelCell Energy in the second quarter worth about $90,000. 42.78% of the stock is currently owned by institutional investors.
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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