FuelCell Energy Inc. (NASDAQ:FCEL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants with virtually no air pollution and reduced greenhouse gas emissions using a variety of fuels including renewable biogas and domestically-available fuels like natural gas. “
Several other research firms also recently issued reports on FCEL. Roth Capital restated a “buy” rating and set a $12.00 price objective on shares of FuelCell Energy in a report on Wednesday, September 7th. FBR & Co restated an “outperform” rating and set a $9.00 price objective on shares of FuelCell Energy in a report on Monday, August 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $11.50.
FuelCell Energy (NASDAQ:FCEL) opened at 2.90 on Thursday. FuelCell Energy has a 52-week low of $2.70 and a 52-week high of $10.74. The stock’s market cap is $97.27 million. The firm has a 50-day moving average price of $3.81 and a 200 day moving average price of $5.20.
FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Wednesday, September 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.01. FuelCell Energy had a negative return on equity of 45.82% and a negative net margin of 34.72%. The company had revenue of $21.72 million for the quarter. During the same quarter in the prior year, the firm earned ($0.24) earnings per share. FuelCell Energy’s revenue for the quarter was down 47.5% compared to the same quarter last year. Equities analysts anticipate that FuelCell Energy will post ($1.68) earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp bought a new position in FuelCell Energy during the second quarter worth about $138,000. KCG Holdings Inc. bought a new position in FuelCell Energy during the third quarter worth about $143,000. RobecoSam USA Inc. raised its position in FuelCell Energy by 122.7% in the second quarter. RobecoSam USA Inc. now owns 24,500 shares of the company’s stock worth $152,000 after buying an additional 13,500 shares in the last quarter. Jane Street Group LLC bought a new position in FuelCell Energy during the second quarter worth about $171,000. Finally, First Trust Advisors LP raised its position in FuelCell Energy by 13.0% in the third quarter. First Trust Advisors LP now owns 32,182 shares of the company’s stock worth $174,000 after buying an additional 3,702 shares in the last quarter. Institutional investors and hedge funds own 23.21% of the company’s stock.
About FuelCell Energy
FuelCell Energy, Inc is an integrated fuel cell company. The Company designs, manufactures, sells, installs, operates and services stationary fuel cell power plants for distributed power generation. The Company’s segment is fuel cell power plant production and research. The Company’s power plants provide on-site power and utility grid support.