NEW YORK (TheStreet) -- Shares of FuelCell Energy Inc. (FCEL) are up 0.81% to $2.49 in after-hours trading following an announcement earlier today that the German government awarded the company 4.9 million euros, or $6.6 million, in research awards.
The German Federal Ministry for Economic Affairs and Energy issued the awards to support a three-year research and development project between FuelCell Energy affliate FuelCell Energy Solutions and its joint venture partner Fraunhofer IKTS. The project aims to improve the Direct FuelCell technology by increasing power density and operating life of the fuel cells.
At the close, the stock had jumped 11.76% to $2.47 on very heavy trading volume.
TheStreet Ratings team rates FUELCELL ENERGY INC as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FUELCELL ENERGY INC (FCEL) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and poor profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: