In the latest trading session, FuelCell Energy (FCEL) closed at $3.60, marking a -1.1% move from the previous day. This change lagged the S&P 500's daily loss of 0.89%. Meanwhile, the Dow lost 0.63%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the fuel cell power plant maker had gained 25.52% over the past month, outpacing the Oils-Energy sector's gain of 13.99% and the S&P 500's gain of 11.42% in that time.
Wall Street will be looking for positivity from FuelCell Energy as it approaches its next earnings report date. On that day, FuelCell Energy is projected to report earnings of -$0.07 per share, which would represent no growth from the year-ago period. Meanwhile, our latest consensus estimate is calling for revenue of $43.41 million, up 211.43% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for FuelCell Energy. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.47% higher within the past month. FuelCell Energy is currently a Zacks Rank #2 (Buy).
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 141, putting it in the bottom 45% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Just Released: Free Report Reveals Little-Known Strategies to Help Profit from the $30 Trillion Metaverse Boom
It's undeniable. The metaverse is gaining steam every day. Just follow the money. Google. Microsoft. Adobe. Nike. Facebook even rebranded itself as Meta because Mark Zuckerberg believes the metaverse is the next iteration of the internet. The inevitable result? Many investors will get rich as the metaverse evolves. What do they know that you don't? They’re aware of the companies best poised to grow as the metaverse does. And in a new FREE report, Zacks is revealing those stocks to you. This week, you can download, The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks. It reveals specific stocks set to skyrocket as this emerging technology develops and expands. Don't miss your chance to access it for free with no obligation.
>>Show me how I could profit from the metaverse!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
FuelCell Energy, Inc. (FCEL): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.