FuelCell – FuelCell Energy (NASDAQ:FCEL) Lifted to Buy at Zacks Investment Research
FuelCell Energy (NASDAQ:FCEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage presently has a $13.00 price objective on the energy company’s stock. Zacks Investment Research’s price objective would suggest a potential upside of 16.38% from the company’s current price.
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 research analysts have also issued reports about the company. Canaccord Genuity initiated coverage on FuelCell Energy in a research report on Wednesday, December 9th. They issued a “hold” rating for the company. ValuEngine lowered FuelCell Energy from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. JPMorgan Chase & Co. lowered FuelCell Energy from an “overweight” rating to a “neutral” rating in a research report on Thursday, November 19th. They noted that the move was a valuation call. BidaskClub lowered FuelCell Energy from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Finally, Oppenheimer reiterated a “hold” rating on shares of FuelCell Energy in a research report on Thursday, September 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.25.
Shares of FCEL stock traded down $0.57 during trading hours on Friday, reaching $11.17. The company had a trading volume of 34,087,477 shares, compared to its average volume of 27,293,984. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.74 and a current ratio of 2.69. The stock has a fifty day moving average of $8.25 and a 200-day moving average of $3.94. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -19.60 and a beta of 5.48. FuelCell Energy has a 12-month low of $1.00 and a 12-month high of $13.91.
Several hedge funds and other institutional investors have recently made changes to their positions in FCEL. Principal Financial Group Inc. acquired a new stake in shares of FuelCell Energy in the second quarter valued at $71,000. New York State Common Retirement Fund acquired a new stake in shares of FuelCell Energy in the second quarter valued at $440,000. State Board of Administration of Florida Retirement System acquired a new stake in shares of FuelCell Energy in the second quarter valued at $180,000. Amalgamated Bank acquired a new stake in shares of FuelCell Energy in the second quarter valued at $65,000. Finally, California Public Employees Retirement System increased its holdings in FuelCell Energy by 27.5% in the second quarter. California Public Employees Retirement System now owns 485,341 shares of the energy company’s stock valued at $1,097,000 after buying an additional 104,612 shares during the last quarter. Institutional investors and hedge funds own 18.39% 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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