FuelCell Energy (NASDAQ:FCEL) Shares Up 18.3% Following Analyst Upgrade

Key Points

• FuelCell Energy shares jumped 18.3% after B. Riley Financial upgraded the stock from neutral to buy and raised its price target to $32 from $13.
• Analyst sentiment is still mixed overall, but recent upgrades from B. Riley and Jefferies have added to bullish momentum even as some firms maintain hold or underweight ratings.
• The company also announced a $49 million EXIM financing package tied to a South Korea fuel cell project, which investors view as non-dilutive capital supporting growth.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report)'s share price rose 18.3% on Tuesday after B. Riley Financial upgraded the stock from a neutral rating to a buy rating. B. Riley Financial now has a $32.00 price target on the stock, up from their previous price target of $13.00. FuelCell Energy traded as high as $34.50 and last traded at $35.2490. Approximately 4,748,457 shares were traded during mid-day trading, a decline of 20% from the average session volume of 5,952,396 shares. The stock had previously closed at $29.80.

Other research analysts also recently issued research reports about the company. TD Cowen reaffirmed a "hold" rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. KeyCorp reissued a "sector weight" rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Wall Street Zen downgraded shares of FuelCell Energy from a "hold" rating to a "sell" rating in a report on Saturday, June 13th. Weiss Ratings raised shares of FuelCell Energy from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company increased their price target on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a research report on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.00.

FuelCell Energy News Summary

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

• Positive Sentiment: FuelCell Energy secured a $49 million EXIM financing package to support delivery of five fuel cell blocks to Gyeonggi Green Energy in South Korea. The deal is viewed as non-dilutive capital, which investors like because it supports growth without issuing new shares. FuelCell Energy Secures $49 Million in EXIM Financing to Advance U.S. Clean Energy Exports
• Positive Sentiment: B. Riley upgraded FCEL to Buy and raised its price target to $32 from $13, reinforcing the idea that the stock may still have upside after the recent move. FCEL: B. Riley Ups FuelCell Energy to Buy on Datacenter Deal
• Positive Sentiment: Jefferies also upgraded FuelCell Energy to Buy, citing the company’s Fit Energy deal as a key part of its investment thesis, adding to the bullish analyst momentum. Here Is How to Play FuelCell Energy Stock After the Jefferies Upgrade
• Positive Sentiment: Market chatter also pointed to FuelCell’s South Korea expansion as a growth driver, with investors bidding up the stock ahead of the project financing and export-related news. FuelCell Energy (FCEL) Climbs 24% Ahead of South Korea Expansion
• Neutral Sentiment: FCEL has become a high-momentum hydrogen stock, with articles noting a monstrous quarterly rally and comparisons to other speculative clean-energy surges. That momentum can attract traders, but it also raises volatility risk. Pulling A Bloom? FCEL Stock’s Monster Quarter Rally Has Retail Comparing It To BE’s Playbook

Hedge Funds Weigh In On FuelCell Energy

Several large investors have recently added to or reduced their stakes in FCEL. Kestra Advisory Services LLC purchased a new stake in FuelCell Energy in the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of FuelCell Energy by 1,316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company's stock worth $59,000 after acquiring an additional 7,080 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of FuelCell Energy during the 4th quarter worth about $78,000. Franklin Resources Inc. acquired a new stake in shares of FuelCell Energy in the fourth quarter worth approximately $84,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of FuelCell Energy in the fourth quarter worth approximately $91,000. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

FuelCell Energy Trading Up 23.6%

The business's fifty day moving average is $18.38 and its 200-day moving average is $11.47. The stock has a market capitalization of $2.49 billion, a PE ratio of -5.64 and a beta of 2.42. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The company had revenue of $35.59 million for the quarter, compared to analyst estimates 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 period last year, the company posted ($1.79) EPS. As a group, analysts anticipate that FuelCell Energy, Inc. will post -1.84 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.