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FuelCell Energy (NASDAQ:FCEL) was upgraded by research analysts at Cowen and Company from a “market perform” rating to an “outperform” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.

Shares of FuelCell Energy (NASDAQ:FCEL) traded down 2.16% on Tuesday, hitting $2.27. The stock had a trading volume of 3,801,725 shares. FuelCell Energy has a 52-week low of $1.12 and a 52-week high of $4.74. The stock’s 50-day moving average is $2.3 and its 200-day moving average is $2.23. The company’s market cap is $590.3 million.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Tuesday, June 3rd. The company reported ($0.04) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.04). The company had revenue of $38.27 million for the quarter, compared to the consensus estimate of $44.73 million. During the same quarter last year, the company posted ($0.04) earnings per share. FuelCell Energy’s revenue was down 9.8% compared to the same quarter last year. On average, analysts predict that FuelCell Energy will post $-0.13 earnings per share for the current fiscal year.

FCEL has been the subject of a number of other recent research reports. Analysts at ISI Group cut their price target on shares of FuelCell Energy to $2.40 in a research note on Thursday, June 5th. Analysts at Stifel Nicolaus initiated coverage on shares of FuelCell Energy in a research note on Wednesday, May 28th. They set a “buy” rating and a $2.90 price target on the stock. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $2.60.

FuelCell Energy, Inc (NASDAQ:FCEL) is a integrated fuel cell company.

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