FuelCell Energy, Inc. (NASDAQ:FCEL) Given Average Rating of “Reduce” by Brokerages

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been given an average recommendation of “Reduce” by the seven research firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $9.0625.

Several brokerages have recently commented on FCEL. TD Cowen upped their target price on FuelCell Energy from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, December 19th. Wall Street Zen lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a report on Friday, December 19th. Zacks Research lowered shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday, December 29th.

Insider Activity

In other news, Director Betsy B. Bingham sold 8,608 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $8.52, for a total value of $73,340.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds have recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC purchased a new position in FuelCell Energy during the 2nd quarter valued at about $56,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of FuelCell Energy by 1,316.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares during the period. Independent Advisor Alliance purchased a new position in FuelCell Energy during the third quarter valued at approximately $80,000. Bank of America Corp DE increased its stake in FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after buying an additional 4,435 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in FuelCell Energy by 638.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 19,016 shares of the energy company’s stock worth $107,000 after buying an additional 16,440 shares in the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

FuelCell Energy Stock Up 0.4%

FCEL stock opened at $9.63 on Friday. The firm has a market cap of $459.74 million, a PE ratio of -1.23 and a beta of 1.13. FuelCell Energy has a 12 month low of $3.58 and a 12 month high of $11.99. The company has a debt-to-equity ratio of 0.17, a current ratio of 6.63 and a quick ratio of 5.36. The firm has a 50 day simple moving average of $8.01 and a 200 day simple moving average of $7.09.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, December 18th. The energy company reported ($0.83) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.14. The company had revenue of $55.02 million for the quarter, compared to analysts’ expectations of $47.23 million. FuelCell Energy had a negative return on equity of 18.85% and a negative net margin of 118.80%.During the same quarter in the prior year, the company earned ($1.99) earnings per share. Equities research analysts forecast that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.