What has caused a significant move in FuelCell Energy, Inc. (FCEL)?

FuelCell Energy, Inc. (NASDAQ:FCEL) is a stock to watch today. At current price of $0.3, the shares have already lost -0.02 points (-5.84% lower) from its previous close of $0.32. The stock sets an active trading volume day with a reported 4496133 contracts so far this session. FCEL shares had a relatively better volume day versus average trading capacity of 12.6 million shares, but with a 27.29 million float and a -48.26% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for FCEL stock indicates that the average analyst price target is $3.2 per share. This means the stock has a potential increase of 966.67% from where the FCEL share price has been trading recently which is between $0.29 and $0.433. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.

The shorts are climbing into FuelCell Energy, Inc. (FCEL) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in FCEL shares. While short interest still represents only 16.96% of FCEL’s float, the number of shares shorted have risen by 1109355. The number of shares shorted advanced to 4629263 shares, up from 3519908 shares during the preceding fortnight. With average daily trading volumes at 12167697 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “FuelCell Energy Announces Sub-MW Solution for European Market” and dated July 15, 2019.

During the recent trading session for FuelCell Energy, Inc. (NASDAQ:FCEL), the company witnessed their stock drop by $-0.49 over a week and surge $unch from the price 20 days ago. When compared to their established 52-week high of $17.52, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/19/18. The recent low of $0.13 stood for a -98.28% since 06/26/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.61 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for FuelCell Energy, Inc., the two-week RSI stands at 39.85. This figure suggests that FCEL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current FCEL readings is similarly very revealing as it has a stochastic reading of 22.6% at this stage. This figure means that FCEL share price today is being overbought.

Technical chart claims that FuelCell Energy, Inc. (FCEL) would settle between $0.41/share to $0.49/share level. However, if the stock price goes below the $0.26 mark, then the market for FuelCell Energy, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $0.2 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.27. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Oppenheimer lowered their recommendation on shares of FCEL from Outperform to Perform in their opinion released on June 06. Cowen analysts have lowered their rating of FuelCell Energy, Inc. (NASDAQ:FCEL) stock from Outperform to Market Perform in a separate flash note issued to investors on June 06. Analysts at ROTH Capital released an upgrade from Neutral to Buy for the stock, in a research note that dated back to February 09.

FCEL equity has an average rating of 3, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated FuelCell Energy, Inc. (NASDAQ:FCEL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, FCEL stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.15 while for the average stock in the same group, the multiple is 6.22.

FuelCell Energy, Inc. (FCEL)’s current-quarter revenues are projected to climb by nearly -30.39% to hit $14.5 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -23.52% from $89.44 million to a noteworthy $68.4 million. At the other end of the current quarter income statement, FuelCell Energy, Inc. is expected to see its adjusted earnings surge by roughly 93.84% to hit $-0.17 per share. For the fiscal year, FCEL’s earnings are projected to climb by roughly 40.72% to hit $-5.62 per share.