FuelCell Energy (NASDAQ:FCEL) Stock Price Up 18.3% - Time to Buy?

Key Points

• FuelCell Energy shares surged 18.3% to about $21.39, with the move bringing the stock close to the analyst consensus price target of $22.83.
• Analyst sentiment remains mixed: Jefferies and Canaccord Genuity issued Buy ratings with price targets of $24 and $30, while Wells Fargo maintained an Underweight rating. Overall, the consensus rating is Hold.
• The company continues to face weak fundamentals, reporting a quarterly loss of $0.53 per share versus estimates of a $0.52 profit, revenue below expectations, and a negative net margin of 132.41%.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report)'s stock price rose 18.3% on Thursday . The stock traded as high as $21.88 and last traded at $21.3930. Approximately 2,197,731 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 6,907,594 shares. The stock had previously closed at $18.08.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. KeyCorp reaffirmed a "sector weight" rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Jefferies Financial Group upgraded FuelCell Energy from a "hold" rating to a "buy" rating and increased their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. Wall Street Zen cut shares of FuelCell Energy from a "hold" rating to a "sell" rating in a research report on Saturday, June 13th. Wells Fargo & Company upped their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a report on Tuesday, June 16th. Finally, Canaccord Genuity Group increased their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a "buy" rating in a research report on Tuesday, June 9th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy currently has a consensus rating of "Hold" and a consensus target price of $22.83.

FuelCell Energy Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59. The company has a fifty day moving average of $22.36 and a two-hundred day moving average of $13.78. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -3.43 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last released its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($1.05). The business had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same quarter in the previous year, the firm posted ($1.79) earnings per share. As a group, equities research analysts predict that FuelCell Energy, Inc. will post -1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On FuelCell Energy

Hedge funds have recently made changes to their positions in the stock. Doliver Advisors LP acquired a new stake in FuelCell Energy in the second quarter valued at approximately $360,000. KMG Fiduciary Partners LLC acquired a new stake in shares of FuelCell Energy during the 2nd quarter valued at $324,000. Optiver Holding B.V. bought a new position in FuelCell Energy in the first quarter valued at about $88,000. Bank of America Corp DE increased its position in FuelCell Energy by 1,298.3% in the 1st quarter. Bank of America Corp DE now owns 190,724 shares of the energy company's stock valued at $1,245,000 after acquiring an additional 177,084 shares during the period. Finally, Amundi boosted its holdings in FuelCell Energy by 118.4% in the first quarter. Amundi now owns 50,947 shares of the energy company's stock valued at $333,000 after acquiring an additional 27,621 shares during the last quarter. 42.78% of the stock is currently owned by institutional investors and hedge funds.

FuelCell Energy Company Profile

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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