NEW YORK (TheStreet) -- Shares of FuelCell Energy Inc. (FCEL) are higher by 2.43% to $2.53 on heavy volume in early afternoon trading on Wednesday as the stock continues to gain from yesterday's announcement the German government awarded the company 4.9 million euros, or $6.6 million in research money.
The research awards were granted by the Federal Ministry for Economic Affairs and Energy to support a three year research and development project between FuelCell Energy's affiliate FuelCell Energy Solutions and joint venture partner Fraunhofer IKTS.
The project is designed to enhance Direct FuelCell technology by increasing power density and operating life of the fuel cells, which will lead to lower costs, the company said.
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Separately, 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: