FuelCell Energy (NASDAQ:FCEL) Shares Up 9.9% - Still a Buy?

Key Points

• FuelCell Energy shares rose 9.9% on Thursday, trading as high as $24.24 amid lighter-than-usual volume, with the stock last changing hands at $24.69.
• Analyst sentiment remains mixed: Jefferies and Canaccord Genuity recently upgraded the stock and raised price targets, but the overall consensus rating is still Hold with an average target price of $22.83.
• The company’s latest earnings were weak, as FuelCell Energy missed EPS and revenue estimates and continues to post losses, while an executive also sold shares recently.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) shares were up 9.9% during trading on Thursday . The stock traded as high as $24.24 and last traded at $24.69. 1,976,599 shares traded hands during trading, a decline of 71% from the average daily volume of 6,830,404 shares. The stock had previously closed at $22.47.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FCEL shares. KeyCorp reaffirmed a "sector weight" rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Wall Street Zen downgraded FuelCell Energy from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. 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 shares of FuelCell Energy from a "hold" rating to a "buy" rating and lifted their price target for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. Finally, Canaccord Genuity Group boosted their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $22.83.

FuelCell Energy Trading Up 6.4%

The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.62 billion, a PE ratio of -3.62 and a beta of 2.31. The business has a fifty day moving average price of $22.25 and a 200 day moving average price of $13.33.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last posted its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). The business 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 in the previous year, the firm earned ($1.79) EPS. Analysts forecast 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 company's stock in a transaction 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 transaction, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 5.46% of the company's stock.

Institutional Investors Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new position in shares of FuelCell Energy during the fourth quarter worth about $21,149,000. Invesco Ltd. boosted its position in shares of FuelCell Energy by 75.4% in the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company's stock valued at $11,005,000 after purchasing an additional 647,151 shares during the period. CenterBook Partners LP acquired a new stake in shares of FuelCell Energy in the 4th quarter valued at about $9,348,000. Renaissance Technologies LLC grew its stake in FuelCell Energy by 14.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company's stock worth $8,915,000 after buying an additional 150,600 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in FuelCell Energy by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company's stock worth $8,374,000 after buying an additional 23,981 shares during the last quarter. 42.78% of the stock is owned by hedge funds and other 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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