FuelCell Energy (NASDAQ:FCEL) Earns Buy Rating from Analysts at Craig Hallum

Key Points

• Craig Hallum initiated coverage of FuelCell Energy with a Buy rating and a $22 price target, implying 23.87% upside from the prior close.
• Analyst sentiment remains mixed: five analysts rate the stock Buy, three Hold, and two Sell, producing a consensus Hold rating and an average price target of $22.14.
• FuelCell Energy’s latest quarter fell short of expectations, with a $0.64 per-share loss versus the expected $0.41 loss and revenue of $33 million versus the $38.79 million estimate.

Research analysts at Craig Hallum started coverage on shares of FuelCell Energy (NASDAQ:FCEL - Get Free Report) in a research note issued on Wednesday, Briefing.com reports. The firm set a "buy" rating and a $22.00 price target on the energy company's stock. Craig Hallum's target price would suggest a potential upside of 23.87% from the stock's previous close.

FCEL has been the subject of a number of other reports. Wells Fargo & Company increased their price target on FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a research note on Tuesday, June 16th. Wall Street Zen lowered FuelCell Energy from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. KeyCorp restated a "sector weight" rating on shares of FuelCell Energy in a report on Tuesday. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $30.00 price objective on shares of FuelCell Energy in a research report on Thursday, September 3rd. Finally, B. Riley Financial upgraded shares of FuelCell Energy from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $22.14.

FuelCell Energy Trading Up 18.8%

NASDAQ:FCEL opened at $17.76 on Wednesday. The firm has a 50 day moving average of $20.73 and a 200 day moving average of $16.11. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -5.18 and a beta of 2.35. The company has a quick ratio of 7.77, a current ratio of 8.67 and a debt-to-equity ratio of 0.15. FuelCell Energy has a 52 week low of $4.16 and a 52 week high of $37.88.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings data on Wednesday, September 2nd. The energy company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.23). The business had revenue of $33.00 million for the quarter, compared to analysts' expectations of $38.79 million. FuelCell Energy had a negative net margin of 113.60% and a negative return on equity of 16.85%. As a group, sell-side analysts anticipate that FuelCell Energy will post -1.73 earnings per share for the current fiscal year.

Insider Transactions at FuelCell Energy

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy 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 sale, the executive vice president directly owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.46% of the company's stock.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new stake in FuelCell Energy during the second quarter worth about $120,000. Maven Securities LTD purchased a new stake in shares of FuelCell Energy in the second quarter valued at approximately $837,000. NewEdge Advisors LLC raised its stake in shares of FuelCell Energy by 301.3% during the 2nd quarter. NewEdge Advisors LLC now owns 1,605 shares of the energy company's stock worth $58,000 after buying an additional 1,205 shares during the period. Baird Financial Group Inc. purchased a new position in shares of FuelCell Energy during the 2nd quarter valued at approximately $31,193,000. Finally, Allworth Financial LP grew its stake in FuelCell Energy by 444.4% in the 2nd quarter. Allworth Financial LP now owns 1,301 shares of the energy company's stock valued at $47,000 after acquiring an additional 1,062 shares during the period. 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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