FuelCell Energy, Inc. (NASDAQ:FCEL) Receives Average Recommendation of “Hold” from Brokerages

FuelCell Energy, Inc. (NASDAQ:FCEL) has been given a consensus recommendation of “Hold” by the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $22.8333.

Several equities analysts have recently issued reports on FCEL shares. Canaccord Genuity Group upped their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. UBS Group upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $27.00 in a research note on Tuesday, July 14th. Finally, B. Riley Financial raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $32.00 in a report on Monday, June 29th.

Insider Activity

In related news, EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at $75,162.78. This represents a 48.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.46% of the stock is currently owned by insiders.

Institutional Trading of FuelCell Energy

Several large investors have recently added to or reduced their stakes in FCEL. Legal & General Group Plc purchased a new position in shares of FuelCell Energy in the fourth quarter worth about $21,149,000. Invesco Ltd. boosted its position in FuelCell Energy by 75.4% in the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after buying an additional 647,151 shares during the last quarter. CenterBook Partners LP purchased a new stake in FuelCell Energy in the fourth quarter valued at approximately $9,348,000. Renaissance Technologies LLC increased its holdings in FuelCell Energy by 14.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock worth $8,915,000 after buying an additional 150,600 shares during the period. Finally, Vanguard Group Inc. increased its holdings in FuelCell Energy by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock worth $8,374,000 after buying an additional 23,981 shares during the period. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Down 3.0%

FuelCell Energy stock opened at $21.70 on Wednesday. FuelCell Energy has a 1-year low of $3.78 and a 1-year high of $37.88. The business has a fifty day moving average price of $22.13 and a 200-day moving average price of $15.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -3.30 and a beta of 2.38.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($1.05). The business had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same period in the prior year, the company earned ($1.79) earnings per share. Equities research analysts forecast that FuelCell Energy will post -1.73 EPS for the current fiscal year.

About FuelCell Energy

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.