Zacks Investment Research Upgrades FuelCell Energy (NASDAQ:FCEL) to “Buy”

Zacks Investment Research upgraded shares of FuelCell Energy (NASDAQ:FCEL) from a hold rating to a buy rating in a research note published on Monday, Zacks.com reports. The brokerage currently has $0.75 price target on the energy company’s stock.

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. “

FCEL has been the topic of several other reports. Cowen set a $36.00 price objective on shares of FuelCell Energy and gave the company a buy rating in a research report on Friday, March 8th. Craig Hallum downgraded shares of FuelCell Energy from a buy rating to a hold rating in a research report on Thursday, March 7th. ValuEngine raised shares of FuelCell Energy from a hold rating to a buy rating in a report on Thursday, May 9th. Oppenheimer downgraded shares of FuelCell Energy from an outperform rating to a market perform rating in a report on Thursday, June 6th. Finally, CIBC reaffirmed a market perform rating on shares of FuelCell Energy in a report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $21.19.

Shares of FCEL stock opened at $0.43 on Monday. FuelCell Energy has a one year low of $0.20 and a one year high of $22.44. The stock has a market cap of $5.50 million, a P/E ratio of -0.04 and a beta of 1.86. The company has a current ratio of 1.33, a quick ratio of 0.71 and a debt-to-equity ratio of 1.14.

Several hedge funds and other institutional investors have recently made changes to their positions in FCEL. Loews Corp boosted its holdings in shares of FuelCell Energy by 100.0% during 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 last quarter. Rhumbline Advisers boosted its holdings in shares of FuelCell Energy by 38.2% during the 4th quarter. Rhumbline Advisers now owns 106,936 shares of the energy company’s stock valued at $59,000 after acquiring an additional 29,580 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of FuelCell Energy during the 1st quarter valued at about $80,000. GSA Capital Partners LLP purchased a new stake in shares of FuelCell Energy during the 4th quarter valued at about $90,000. Finally, KBC Group NV boosted its holdings in shares of FuelCell Energy by 37.8% during the 4th quarter. KBC Group NV now owns 329,667 shares of the energy company’s stock valued at $181,000 after acquiring an additional 90,391 shares during the last quarter.

FuelCell Energy Company Profile

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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