First American News LLC: Raleigh NC: The current narrative surrounding FuelCell Energy (NASDAQ:FCEL) stock revolves around a few central ideas.
One, the idea that it will rise from President Joseph Biden’s infrastructure bill and the money to be directed toward clean energy. And two, that FCEL stock is a buy-the-dip opportunity.
Let’s start there first.
FuelCell Energy Opportunity?
Early in 2021, clean energy was much more attractive than it currently is. Back then, investors drove the price of FCEL stock up above $27. By April, it had fallen below $10 — it’s still there. That has led some investors to characterize FCEL stock as a diamond in the rough or a buy-the-dip opportunity.
That might be fine if the analysts covering the stock had a higher opinion of it, but they don’t. Their consensus is that FCEL shares should trade at $7.38 — and there are 10 of those analysts. Click here to read more on FuelCell Energy News at Bloomberg.