FuelCell Energy (NASDAQ:FCEL) Stock Price Up 7% – Here’s Why

by · The Markets Daily

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) rose 7% on Friday. The stock traded as high as $17.94 and last traded at $17.7250. Approximately 2,685,350 shares changed hands during trading, a decline of 62% from the average session volume of 6,988,107 shares. The stock had previously closed at $16.57.

FuelCell Energy News Roundup

Here are the key news stories impacting FuelCell Energy this week:

  • Positive Sentiment: Oppenheimer reportedly maintained a constructive view of FuelCell’s strategy to supply power for artificial-intelligence data centers. However, the firm said FCEL needs more signed data-center orders and greater factory output to improve project economics. Oppenheimer backs FuelCell’s AI power bet, but orders are the test
  • Positive Sentiment: Another report highlighted a new bullish analyst rating, providing some support for FCEL after its significant longer-term volatility. The positive view appears dependent on FuelCell converting its data-center opportunity into firm orders and improving execution. FuelCell Stock Just Scored a New Bullish Rating

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 16th. Wall Street Zen lowered shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 price objective (down from $24.00) on shares of FuelCell Energy in a research note on Thursday, September 3rd. Barclays initiated coverage on shares of FuelCell Energy in a report on Thursday, September 24th. They issued an “equal weight” rating and a $20.00 target price on the stock. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $30.00 target price on shares of FuelCell Energy in a research note on Thursday, September 3rd. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy has a consensus rating of “Hold” and a consensus target price of $21.80.

View Our Latest Report on FCEL

FuelCell Energy Stock Up 6.9%

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.17 and a beta of 2.46. The company has a quick ratio of 7.77, a current ratio of 8.67 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $18.48 and a 200-day moving average price of $17.15.

FuelCell Energy (NASDAQ:FCEL – Get Free Report) last issued its quarterly 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). The company had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $38.79 million. FuelCell Energy had a negative return on equity of 16.85% and a negative net margin of 113.60%. As a group, equities analysts anticipate that FuelCell Energy, Inc. will post -2.09 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, the executive vice president owned 2,618 shares in the company, valued at approximately $75,162.78. This represents a 48.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Homer Livingston, III acquired 16,404 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average cost of $15.05 per share, with a total value of $246,880.20. Following the purchase, the director directly owned 42,747 shares in the company, valued at approximately $643,342.35. This trade represents a 62.27% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of FuelCell Energy by 818.0% during the second quarter. State Street Corp now owns 2,143,908 shares of the energy company’s stock valued at $77,202,000 after buying an additional 1,910,356 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in FuelCell Energy during the 2nd quarter worth about $510,000. Tidal Investments LLC grew its stake in FuelCell Energy by 61.1% during the 2nd quarter. Tidal Investments LLC now owns 244,049 shares of the energy company’s stock valued at $8,788,000 after acquiring an additional 92,572 shares in the last quarter. IPG Investment Advisors LLC acquired a new position in shares of FuelCell Energy in the 2nd quarter valued at about $273,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of FuelCell Energy in the second quarter worth approximately $120,000. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Company Profile

(Get Free Report)

FuelCell Energy, Inc develops and manufactures fuel cell platforms for distributed power generation, microgrids, and energy storage. Its systems generate electricity electrochemically from fuels such as natural gas, biogas, and hydrogen, with the potential for lower emissions than conventional combustion-based generation.

The company’s product portfolio includes carbonate fuel cell platforms, solid oxide fuel cell and electrolysis technologies, and solutions designed for hydrogen production, carbon capture, and long-duration energy storage.

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