FuelCell Energy (NASDAQ:FCEL) news for Friday includes a few things that investors will want to know about as the FCEL stock soars.
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Here’s a roundup of what’s worth noting about FCEL stock today.
- Starting off, Jefferies initiated coverage of the stock with a hold rating.
- That matches up with the consensus rating for FCEL stock with one buy, two holds, and one sell ratings.
- FCEL is also seeing significant trading today with some 52 million shares having changed hands.
- For perspective, the company’s daily average trading volume is 58.78 million shares.
- While there’s no news directly from FuelCell Energy today, that doesn’t mean others aren’t talking about it.
- Motley Fool released a deep breakdown of the stock today covering the last year.
- The publication notes that the company saw its stock dip in 2019 but that performance in 2020 was outstanding.
- That includes rising 345% during the year.
- There were several factors that resulted in this increase in FCEL stock.
- What helped the company was a $3 million award from the Department of Energy, analysts initiating coverage of the stock, and the recent stimulus bill.
- That bill includes $2 billion set aside for updating the power grid, which is something that FuelCell Energy could benefit from.
- While there’s a lot to celebrate for FCEL investors, the company isn’t all sunshine and rainbows.
- For example, it has seen its yearly revenue decline every year since 2013.
- That might be enough to scare off some investors interested in the stock.
FCEL stock was up 243.6% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
