FuelCell Energy Inc. [NASDAQ: FCEL] stock went on a downward path that fall over -4.91% on Tuesday, amounting to a one-week price decrease of less than -16.53%. The company report on September 27, 2021 that FuelCell Energy Applauds the Signing of Senate Bill 155 in California.
FuelCell Energy (Nasdaq: FCEL), a global leader in fuel cell technology — with a purpose of utilizing its proprietary, state-of-the-art fuel cell platforms to enable a world empowered by clean energy — applauds California Governor Gavin Newsom on the signing of Senate Bill 155, which includes a two-year extension of the Fuel Cell Net Energy Metering program, known as Fuel Cell NEM. This bill represents an enormous investment in alleviating the effects of climate change in California through environmental protection, extreme heat mitigation, coastal restoration, and wildfire prevention. Governor Newsom’s July emergency proclamation signaled that California needs all available tools at the ready to ensure that California’s electrical grid remains resilient in the face of extreme demand, heat and supply constraints. The clean, always-on power that fuel cells provide will deliver much needed energy, environmental, and public health benefits. Extending the Fuel Cell NEM program will provide California customers certainty that investing in and deploying clean baseload alternative energy sources is in the best interest of the state as a whole and consistent with the state’s environmental objectives.
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“Fuel Cell NEM allows businesses to invest their own private capital in clean, firm technology that reduces their energy consumption and lowers their environmental footprint by reducing Scope 1, 2, and 3 emissions, while the State benefits from maintaining and creating new jobs, reducing greenhouse gas emissions, criteria air pollutants and water use without any direct incentives,” said Jason Few, President and Chief Executive Officer, FuelCell Energy, Inc. “Again, we thank Governor Newsom and the California Legislature for supporting energy and climate policy that furthers the State’s ambition for reliable baseload power, clean energy investments, job creation and environmental protection.”.
Over the last 12 months, FCEL stock rose by 218.67%. The one-year FuelCell Energy Inc. stock forecast points to a potential upside of 1.65. The average equity rating for FCEL stock is currently 3.30, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.92 billion, with 337.29 million shares outstanding and 309.27 million shares in the current float. Compared to the average trading volume of 29.09M shares, FCEL stock reached a trading volume of 27658438 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on FuelCell Energy Inc. [FCEL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FCEL shares is $7.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FCEL stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for FuelCell Energy Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on April 20, 2021. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Neutral. The new note on the price target was released on April 16, 2021, representing the official price target for FuelCell Energy Inc. stock.
The Average True Range (ATR) for FuelCell Energy Inc. is set at 0.63, with the Price to Sales ratio for FCEL stock in the period of the last 12 months amounting to 40.28. The Price to Book ratio for the last quarter was 3.62, with the Price to Cash per share for the same quarter was set at 1.15.
FCEL Stock Performance Analysis:
FuelCell Energy Inc. [FCEL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.53. With this latest performance, FCEL shares dropped by -6.27% in over the last four-week period, additionally sinking by -31.26% over the last 6 months – not to mention a rise of 218.67% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FCEL stock in for the last two-week period is set at 50.44, with the RSI for the last a single of trading hit 47.04, and the three-weeks RSI is set at 51.29 for FuelCell Energy Inc. [FCEL]. The present Moving Average for the last 50 days of trading for this stock 6.59, while it was recorded at 7.65 for the last single week of trading, and 10.87 for the last 200 days.
Insight into FuelCell Energy Inc. Fundamentals:
FuelCell Energy Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 12.00 and a Current Ratio set at 13.40.
FCEL Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FCEL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for FuelCell Energy Inc. go to 15.00%.
FuelCell Energy Inc. [FCEL] Insider Position Details
There are presently around $942 million, or 38.80% of FCEL stock, in the hands of institutional investors. The top three institutional holders of FCEL stocks are: BLACKROCK INC. with ownership of 31,928,342, which is approximately 33.953% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 28,628,330 shares of the stock with an approximate value of $205.26 million in FCEL stocks shares; and STATE STREET CORP, currently with $52.78 million in FCEL stock with ownership of nearly -8.151% of the company’s market capitalization.
119 institutional holders increased their position in FuelCell Energy Inc. [NASDAQ:FCEL] by around 34,187,605 shares. Additionally, 111 investors decreased positions by around 12,003,428 shares, while 51 investors held positions by with 85,213,466 shares. The mentioned changes placed institutional holdings at 131,404,499 shares, according to the latest SEC report filing. FCEL stock had 37 new institutional investments in for a total of 3,966,930 shares, while 44 institutional investors sold positions of 5,621,252 shares during the same period.