FuelCell Energy (NASDAQ:FCEL) Stock Rating Upgraded by B. Riley Financial

FuelCell Energy (NASDAQ:FCEL) was upgraded by investment analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a report released on Monday. The firm currently has a $32.00 price target on the energy company’s stock. B. Riley Financial’s target price points to a potential upside of 33.33% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Canaccord Genuity Group raised their target price on FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $24.00 in a report on Friday. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Finally, Wells Fargo & Company increased their target price on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.00.

FuelCell Energy Price Performance

Shares of FCEL opened at $24.00 on Monday. The firm has a market cap of $1.62 billion, a PE ratio of -3.65 and a beta of 2.42. 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 fifty day simple moving average of $17.93 and a two-hundred day simple moving average of $11.32. FuelCell Energy has a 1-year low of $3.78 and a 1-year high of $27.69.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly 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 ($0.01). The firm had revenue of $35.59 million for the quarter, compared to the consensus estimate 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 period in the previous year, the company earned ($1.79) earnings per share. On average, equities analysts anticipate that FuelCell Energy will post -1.84 EPS for the current year.

Institutional Investors Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in shares of FuelCell Energy in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of FuelCell Energy in the fourth quarter worth about $78,000. Franklin Resources Inc. bought a new position in FuelCell Energy during the fourth quarter valued at approximately $84,000. Finally, Optiver Holding B.V. bought a new position in FuelCell Energy during the first quarter valued at approximately $88,000. Institutional investors own 42.78% of the company’s stock.

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.