FuelCell Energy Inc (NASDAQ:FCEL), a global leader in the design, manufacture, operation and service of ultra‐clean, efficient and reliable fuel cell power plants, today announced that Natica von Althann has been appointed to the Company’s Board of Directors. She brings with her extensive financial and risk management expertise gained from senior executive roles at Bank of America and Citigroup as well as utility experience gained from her six years as a member of the PPL Corporation board of directors, one of the largest investor-owned companies in the U.S. utility sector, with approximately 18,000 megawatts of power generating capacity. Ms. von Althann will serve on the FuelCell Energy Audit & Finance and Compensation committees. This addition to the FuelCell Energy Board of Directors increases the total number of members to eight.
Ms. von Althann is a skilled senior executive with deep and broad financial and risk management experience gained from three decades of leadership positions with leading financial institutions including Citigroup, Bank of America and U.S. Trust. Currently, Ms. von Althann serves as a director of TD Bank US Holding Company and as a director of PPL Corporation. Previously, she was a founding partner of C&A Advisors, a consulting firm in the area of financial services and risk management. Prior roles included Senior Credit Risk Management Executive with Bank of America, Chief Credit Officer of U.S. Trust, and 26 years with Citigroup in various leadership roles, including Division Executive – Latin America for the Citigroup Private Bank, Managing Director and Global Retail Industry Head, and Managing Director and co-head of the U.S. Telecommunications – Technology group for Citicorp Securities.
“Natica adds a new dynamic to our Board with her wealth of experience and knowledge of the utility industry, bank lending and global financial markets,” said Chip Bottone, Chief Executive Officer, FuelCell Energy, Inc. “We look forward to benefitting from her expertise as we work to develop larger power generation projects that deliver affordable and ultra-clean power.”
“FuelCell Energy is well-positioned with a distributed power generation solution that meets the needs of power users and within an environmental profile that benefits society at large,” said Ms. Von Althann. “I am eager to begin working with the Board to support and enable further growth of FuelCell Energy.” (Original Source)
Shares of Fuelcell Energy closed yesterday at $1.255. FCEL has a 1-year high of $2.84 and a 1-year low of $1.05. The stock’s 50-day moving average is $1.27 and its 200-day moving average is $1.44.
On the ratings front, Fuelcell Energy has been the subject of a number of recent research reports. In a report issued on April 17, Dougherty analyst Pierre Maccagno initiated coverage with a Buy rating on FCEL and a price target of $2.45, which represents a potential upside of 95.2% from where the stock is currently trading. Separately, on March 11, Cowen’s Jeff Osborne maintained a Buy rating on the stock and has a price target of $3.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Pierre Maccagno and Jeff Osborne have a total average return of 25.2% and 4.1% respectively. Maccagno has a success rate of 50.0% and is ranked #1638 out of 3600 analysts, while Osborne has a success rate of 57.1% and is ranked #1410.
Fuelcell Energy Inc is an integrated fuel cell company. The Company designs, manufactures, sells, installs, operates and services ultra-clean, highly efficient stationary fuel cell power plantsfor distributed power generation.