Analysts Set FuelCell Energy, Inc. (NASDAQ:FCEL) Price Target at $10.23

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have earned an average recommendation of “Reduce” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.23.

FCEL has been the topic of several analyst reports. TD Cowen lifted their target price on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 20th. StockNews.com assumed coverage on FuelCell Energy in a research report on Tuesday, November 12th. They issued a “sell” rating on the stock. Wells Fargo & Company cut their price objective on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $12.00 price objective on shares of FuelCell Energy in a research report on Friday, December 20th. Finally, Jefferies Financial Group cut their price objective on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research report on Friday, December 20th.

FuelCell Energy Stock Up 3.6 %

Shares of NASDAQ:FCEL opened at $6.56 on Wednesday. The stock has a market cap of $138.70 million, a price-to-earnings ratio of -0.83 and a beta of 3.71. The company has a quick ratio of 4.48, a current ratio of 6.01 and a debt-to-equity ratio of 0.20. FuelCell Energy has a 12-month low of $5.12 and a 12-month high of $37.20. The business’s 50 day moving average is $8.19 and its 200 day moving average is $9.86.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.52) by $0.10. The company had revenue of $19.00 million for the quarter, compared to analysts’ expectations of $35.37 million. FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. During the same quarter in the previous year, the firm earned ($1.25) earnings per share. On average, sell-side analysts forecast that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

Institutional Trading of FuelCell Energy

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of FuelCell Energy by 13.9% in the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after buying an additional 1,466,442 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of FuelCell Energy by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock valued at $1,512,000 after buying an additional 216,539 shares during the period. Penserra Capital Management LLC raised its stake in shares of FuelCell Energy by 139.6% in the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock valued at $1,412,000 after buying an additional 2,165,316 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after buying an additional 22,153 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of FuelCell Energy by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after buying an additional 143,786 shares during the period. 42.78% of the stock is currently owned by institutional investors.

About FuelCell Energy

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.