FuelCell Energy Inc. (NASDAQ: FCEL) Is Down -57.19% So Far This Year. Analysts Expect A Significant Price Rally

FuelCell Energy Inc. (NASDAQ:FCEL) price is hovering higher on Tuesday, September 19, jumping 1.71% above its previous close.

A look at today’s price movement shows that the recent level at last check reads $1.17, with intraday deals fluctuating between $1.16 and $1.24. The company’s 5Y monthly beta was ticking 3.68. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.36 and 52-week low of $1.16. The stock subtracted -26.09% on its value in the past month.

FuelCell Energy Inc., which has a market valuation of $553.54 million, is expected to release its quarterly earnings report Dec 18, 2023 – Dec 22, 2023. Analysts tracking FCEL have forecast the quarterly EPS to shrink by -0.08 per share this quarter, while the same analysts predict the annual EPS to hit -$0.28 for the year 2023 and up to -$0.29 for 2024. In this case, analysts estimate an annual EPS growth of 26.30% for the year and -3.60% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $24.69 million, with the likely lows of $19 million and highs of $29.75 million. The average estimate suggests sales growth for the quarter will likely fall by -37.00% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $126.66 million for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -2.90% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give FCEL a short term outlook of 100% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that FCEL’s price is at present -13.94% off the SMA20 and -33.90% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 27.25, with weekly volatility standing at 6.43%. The indicator jumps to 8.11% when calculated based on the past 30 days. FuelCell Energy Inc. (NASDAQ:FCEL)’s beta value is holding at 3.69, while the average true range (ATR) indicator is currently reading 0.10. Considering analysts have assigned the stock a price target range of $1.00-$2.75 as the low and high respectively, we find the trailing 12-month average consensus price target to be $2.02. Based on this estimate, we see that today’s price at last check is roughly 15.97% off the estimated low and -131.09% off the forecast high. Investors will no doubt be excited to see the share price fall to $2.00, which is the median consensus price, and at that level FCEL would be -68.07% from recent price.

An analysis of the FuelCell Energy Inc. (NASDAQ:FCEL) stock in terms of its daily trading volume indicates that the 3-month average is 13.81 million. However, this figure increases on the past 10-day timeline to an average of 11.29 million.

Current records show that the company has 450.63M in outstanding shares. The insiders’ percentage holdings are 0.10% of outstanding shares while the percentage share held by institutions stands at 44.90%. The stats also highlight that short interest as of Aug 30, 2023, stood at 80.12 million shares, which puts the short ratio at the time at 6.57. From this we can glean that short interest is 17.80% of company’s current outstanding shares. Notably, we see that shares short in August rose slightly given the previous month’s figure stood at 67.81 million. But the -57.19% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.