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Wednesday, October 4, 2023

FuelCell Energy Inc. (FCEL)’s Stock is Jumping, Here is Why

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FuelCell Energy Inc. (FCEL) shares are trading at higher $5.36 and the avg recommendation for the stock is Hold, while the current analyst price target stands at $2.50.

To add more color to this target, the company’s high over the last year is $5.80 and the low is $0.48. Over the last 52 weeks, FCEL is up 577.45% while the S&P 500 is up 15.13%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, FCEL reported a profit of -$3.13 million. FuelCell Energy Inc. also saw revenues decrease to $18.73 million. In addition, FCEL has free cash flow of -$48.23 million as of 07-2020. The company’s EBITDA came in at -$6.04 million which compares well with its peers.

FCEL Return on Equity (ROE) is -152.20%, and its Return on Assets is -28.00%. All told, it is clear that, FCEL needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. FCEL has a short ratio of 1.72 and outstanding shares of 217.97M.

Company Outlook

FCEL has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 77.13 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -1.43. FuelCell Energy Inc. FCEL also noted assets of $436.77 million at the end of the last quarter. Investors should also keep an eye on sector updates as FCEL has historically followed its peers on positive news.

All told, FuelCell Energy Inc. FCEL has strung together solid data and demonstrated underlying fundamentals. At its current valuation, FCEL represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

FuelCell Energy Inc. FCEL is now commanding a market cap of 1.42B and a float of 213.54M. FCEL is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of FCEL stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in FCEL, either long or short, and we have not been compensated for this article.

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