Wells Fargo & Company Cuts FuelCell Energy (NASDAQ:FCEL) Price Target to $5.00

FuelCell Energy (NASDAQ:FCEL) had its price target dropped by investment analysts at Wells Fargo & Company from $30.00 to $5.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “underweight” rating on the energy company’s stock. Wells Fargo & Company‘s price objective would indicate a potential downside of 28.67% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Canaccord Genuity Group lowered their price target on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a report on Friday, September 6th. UBS Group dropped their target price on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, StockNews.com began coverage on shares of FuelCell Energy in a report on Tuesday. They issued a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat.com, FuelCell Energy currently has a consensus rating of “Hold” and a consensus price target of $19.17.

FuelCell Energy Price Performance

FCEL stock opened at $7.01 on Wednesday. The firm has a 50 day moving average of $10.86 and a 200-day moving average of $16.81. The firm has a market capitalization of $129.76 million, a P/E ratio of -0.90 and a beta of 3.91. FuelCell Energy has a 12 month low of $5.45 and a 12 month high of $55.20. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, meeting analysts’ consensus estimates of ($2.10). FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. The firm had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.22 million. During the same period in the previous year, the business earned ($1.80) EPS. As a group, sell-side analysts predict that FuelCell Energy will post -7.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FCEL. SageView Advisory Group LLC bought a new position in shares of FuelCell Energy during the 1st quarter valued at $41,000. Algert Global LLC bought a new position in shares of FuelCell Energy during the second quarter valued at about $29,000. AQR Capital Management LLC increased its holdings in shares of FuelCell Energy by 106.0% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after buying an additional 26,223 shares during the period. Fermata Advisors LLC lifted its stake in shares of FuelCell Energy by 54.5% in the 2nd quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock valued at $53,000 after acquiring an additional 29,113 shares during the last quarter. Finally, Bogart Wealth LLC boosted its holdings in FuelCell Energy by 21,285.7% during the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after acquiring an additional 111,750 shares during the period. 42.78% of the stock is owned by hedge funds and other institutional investors.

FuelCell Energy Company Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.