TD Cowen Forecasts Strong Price Appreciation for FuelCell Energy (NASDAQ:FCEL) Stock

FuelCell Energy (NASDAQ:FCEL) had its price objective upped by TD Cowen from $2.00 to $12.00 in a report issued on Friday morning, Marketbeat Ratings reports. They currently have a hold rating on the energy company’s stock.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company reduced their price target 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. StockNews.com assumed coverage on shares of FuelCell Energy in a research note on Tuesday, November 12th. They issued a “sell” rating for the company. Canaccord Genuity Group lowered their price target on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, UBS Group reduced their price objective on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $10.23.

FuelCell Energy Stock Up 11.7 %

Shares of NASDAQ FCEL opened at $10.42 on Friday. The stock has a market cap of $192.93 million, a P/E ratio of -1.33 and a beta of 3.64. The business’s fifty day simple moving average is $9.78 and its 200-day simple moving average is $14.18. 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.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in shares of FuelCell Energy by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock valued at $1,071,000 after buying an additional 114,267 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in FuelCell Energy by 43.8% in the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock valued at $811,000 after acquiring an additional 386,751 shares during the last quarter. Rhumbline Advisers boosted its stake in FuelCell Energy by 7.3% in the second quarter. Rhumbline Advisers now owns 859,359 shares of the energy company’s stock valued at $549,000 after acquiring an additional 58,773 shares in the last quarter. Inspire Investing LLC grew its holdings in shares of FuelCell Energy by 90.3% during the second quarter. Inspire Investing LLC now owns 565,014 shares of the energy company’s stock worth $361,000 after purchasing an additional 268,126 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of FuelCell Energy by 106.0% during the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after purchasing an additional 26,223 shares in the last quarter. 42.78% of the stock is currently owned by hedge funds and other 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.