The stock of FuelCell Energy, Inc. (NASDAQ:FCEL) is now priced at $2.92 and the shares are -0.04 points down or -1.35% lower compared to its previous closing price of $2.96. The stock had 13.403 million contracts set over the past session. FCEL shares’ daily volume is compared to its average trading volume at 16.711 million shares. However, it has a float of 206 million and although its performance was 6.96% over the week, it’s one to watch. Analysts have given the FCEL stock a yearly average price target of $2.42 per share. It means the stock’s downside potential is -17.12% with the FCEL share price recently placing at $2.9 to $3.17. However, some brokerage firms have priced the stock below the average, including one that has called $1.5.
The shorts are climbing into the FuelCell Energy, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the FCEL shares have risen. Short interest in the stock represents just 19.89% of its float, but the volume has raised by 1904236. The volume of shorted shares rised to 40.91 million from 39.005 million shares over the last two weeks. The average intraday trading volume has been 9.763 million shares, which means that days to cover moved to roughly 4.190292.
In the last trading session, FuelCell Energy, Inc. (NASDAQ:FCEL) raised by $0.19 over the week and gained $0.4 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $3.5. The stock recorded its established 52-week high on 08/19/20.
Since 10/31/19, the stock has traded to a low of $0.23 at 1186.34%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.14. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, FuelCell Energy, Inc.’s two-week RSI is 56.77. This suggests that the stock is neutral at the moment and that FCEL shares’ price movement remains stable. The stochastic readings are equally revealing at 59.37% meaning the FCEL share price is currently in neutral territory.
The technical chart shows that the FCEL stock will likely settle at between $3.09 and $3.27 per share. However, if the stock dips below $2.82, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.73.
Currently, the stock is trading in the green of MACD, with a reading of 0.13. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Craig Hallum cut their recommendation for FCEL from Hold to Sell in June 12 review. Craig Hallum analysts upgraded their recommendation of the stock from Sell to Hold in a flash note released to investors on March 16. Craig Hallum seeing the stock struggling downgraded it from Hold to Sell on January 23 placing it at $1.5.
The average rating for the FCEL equity is 3.25 and is currently gathering a bearish momentum. Of 4 analysts tracking FuelCell Energy, Inc. polled by Reuters, 3 rated FCEL as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (0) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands at 0.8 below the group’s average of 50.9. FuelCell Energy, Inc. has its P/E ratio at 12.9, which means that the stock is currently trading at a premium relative to the 3.9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for FuelCell Energy, Inc. (NASDAQ:FCEL) will decrease by about -99.91%, which will see them reach $16.05 million. The company’s full-year revenues are, however, expected to increase by about 13.09%, up from $60.75 million to $68.7 million. FCEL’s expected adjusted earnings should drop almost -66.67% to end up at -$0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -72.41% to record -$0.4/share.