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FuelCell Energy (NASDAQ:FCEL) shares were up 3.1% on Wednesday after Cowen and Company raised their price target on the stock from $2.40 to $3.00, AnalystRatings.Net reports. The stock traded as high as $2.41 and last traded at $2.34, with a volume of 5,262,031 shares. The stock had previously closed at $2.27.

A number of other firms have also recently commented on FCEL. 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $2.70.

The stock’s 50-day moving average is $2.29 and its 200-day moving average is $2.24. The company’s market cap is $612.4 million.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Tuesday, June 3rd. The company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters 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 in the prior year, the company posted ($0.04) earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts predict that FuelCell Energy will post $-0.13 earnings per share for the current fiscal year.

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

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