What's Going On With FuelCell Energy Stock?

FuelCell Energy, Inc. FCEL shares are trading higher Tuesday and the stock is up more than 25% over the past five days. 

What To Know:

Earlier in May, President Joe Biden announced increased tariffs on a range of Chinese goods, including clean energy technologies, leading to a spike for FuelCell Energy shares. The stock initially gave back the gains, but has been climbing steadily since last week. 

FuelCell Energy is set to report its second-quarter financial results before the market open on June 10 and will host a conference call to discuss the results at 10:00 a.m. ET the same day. According to estimates from Benzinga Pro, analysts expect the company to report losses of 8 cents per share and quarterly revenue of $21.351 million. 

The stock is currently one of the top trending tickers on Yahoo Finance and is climbing on heavy trading volume with more than double its 100-day average volume already traded in the session. 

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Will FCEL Stock Go Up?

When trying to assess whether or not FuelCell Energy will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $1.75 on FuelCell Energy. The Street high target is currently at $2 and the Street low target is $1.50. Of all the analysts covering FuelCell Energy, no one has a positive rating, 2 have neutral ratings and no one has a negative rating.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering FuelCell Energy have performed in recent history.

Stocks don't move in a straight line. The average stock market return is approximately 10% per year. FuelCell Energy is 54.89% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.

For a broad overview of everything you need to know about FuelCell Energy, visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

FCEL Price Action: According to Benzinga Pro, FuelCell Energy shares are up 10% at 96 cents at the time of publication Tuesday.

Image: Moondance from Pixabay