FuelCell Energy (NASDAQ:FCEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, Zacks.com reports. The firm currently has a $0.50 price objective on the energy company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 24.53% from the company’s previous close.
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. “
Other equities analysts have also recently issued reports about the stock. Cowen cut shares of FuelCell Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 6th. Oppenheimer cut shares of FuelCell Energy from an “outperform” rating to a “market perform” rating in a research report on Thursday, June 6th. CIBC reiterated a “market perform” rating on shares of FuelCell Energy in a research report on Thursday, June 6th. Finally, ValuEngine cut shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. FuelCell Energy currently has an average rating of “Hold” and a consensus target price of $21.13.
FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, September 9th. The energy company reported ($0.18) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.06) by $0.88. The business had revenue of $22.71 million during the quarter, compared to analysts’ expectations of $8.30 million. FuelCell Energy had a negative net margin of 83.56% and a negative return on equity of 60.21%. As a group, research analysts forecast that FuelCell Energy will post -4.01 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in FuelCell Energy during the 2nd quarter worth approximately $27,000. Loews Corp increased its position in FuelCell Energy by 100.0% in the 1st quarter. Loews Corp now owns 135,650 shares of the energy company’s stock valued at $33,000 after acquiring an additional 67,825 shares during the period. Finally, CNA Financial Corp increased its position in FuelCell Energy by 100.0% in the 1st quarter. CNA Financial Corp now owns 1,140,050 shares of the energy company’s stock valued at $281,000 after acquiring an additional 570,025 shares during the period. Institutional investors and hedge funds own 21.00% of the company’s stock.
About FuelCell Energy
FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and micro-grid, as well as multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.
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