Yesterday’s trading session started with FuelCell Energy’s share price popping, reaching as high as 34.2% on heavy volume as the company released its quarterly earnings report.
Yesterday, one of the main market movers was FuelCell Energy. The company released its quarterly earnings report and, at first glance, it was better than expected. The stock price cooled off a bit later in the trading session, and some of its reported numbers surely deserve closer inspection.
Let’s have a closer look at FuelCell Energy and where you can speculate on its future price.
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What Is FuelCell Energy?
The company manufactures and operates Direct Fuel Cell power plants and is headquartered in Connecticut. FuelCell Energy provides clean energy all over the world and is one of the largest public fuel cell manufacturers in the U.S.
Should I Buy FuelCell Energy Today?
In short, FuelCell struggled to reach the estimates in the last few quarters, which is why investors went into a frenzy during yesterday’s trading session. The company reported revenue growth of 43%, followed by an increase of 135% in gross profit. But is this enough to make it worthy of your investment?
There are some yellow flags that could push its share price back down, turning the stock into a profitable opportunity if you may want to short-sell. The company generates revenues through its services and the inability to beat estimates for a few quarters meant that it did not win any new contracts. Also, its current service backlog could take any number of years to turn into cash.
One thing is for sure – you should always do your due diligence before picking your assets.
FuelCell Energy Price Prediction 2021
At the time of writing, the company’s stock price is $6.44. Several analysts expect a high target of $12.20 in the next 12 months, while the lowest estimate is only $3.