FuelCell Energy (NASDAQ:FCEL) Stock Price Passes Above 200 Day Moving Average – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.78 and traded as high as $8.44. FuelCell Energy shares last traded at $8.30, with a volume of 1,455,217 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on FCEL shares. Zacks Research upgraded shares of FuelCell Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Canaccord Genuity Group restated a “hold” rating and set a $12.00 target price on shares of FuelCell Energy in a research report on Friday, December 19th. TD Cowen raised their target price on shares of FuelCell Energy from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Wall Street Zen upgraded FuelCell Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 20th. Finally, UBS Group increased their price target on FuelCell Energy from $4.50 to $7.25 and gave the stock a “neutral” rating in a research report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, FuelCell Energy has an average rating of “Hold” and a consensus price target of $9.06.

FuelCell Energy Trading Up 0.7%

The firm’s 50-day simple moving average is $7.72 and its 200 day simple moving average is $6.78. The firm has a market capitalization of $396.24 million, a price-to-earnings ratio of -1.06 and a beta of 1.13. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.63 and a quick ratio of 5.36.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Thursday, December 18th. The energy company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.14. The business had revenue of $55.02 million during the quarter, compared to the consensus estimate of $47.23 million. FuelCell Energy had a negative return on equity of 18.85% and a negative net margin of 118.80%.During the same period in the prior year, the company earned ($1.99) EPS. Equities analysts expect that FuelCell Energy, Inc. will post -6.11 earnings per share for the current year.

Insider Activity at FuelCell Energy

In other news, Director Betsy B. Bingham sold 8,608 shares of the stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $8.52, for a total value of $73,340.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of FuelCell Energy by 1,316.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of FuelCell Energy in the third quarter valued at approximately $107,000. Sherbrooke Park Advisers LLC bought a new position in FuelCell Energy in the 3rd quarter valued at approximately $229,000. Qube Research & Technologies Ltd acquired a new stake in FuelCell Energy during the 3rd quarter worth approximately $1,542,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in FuelCell Energy by 15.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 385,021 shares of the energy company’s stock worth $3,003,000 after buying an additional 50,228 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.

About FuelCell Energy

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.