Brokerages Set FuelCell Energy, Inc. (NASDAQ:FCEL) Price Target at $10.03

FuelCell Energy, Inc. (NASDAQ:FCEL) has earned an average recommendation of “Reduce” from the six ratings firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.03.

Several brokerages have weighed in on FCEL. TD Cowen boosted their price objective on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 20th. Jefferies Financial Group cut their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a report on Friday, December 20th. Canaccord Genuity Group reissued a “hold” rating and issued a $12.00 target price on shares of FuelCell Energy in a research note on Friday, December 20th. Finally, B. Riley reduced their price target on FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th.

FuelCell Energy Stock Down 7.5 %

Shares of NASDAQ FCEL opened at $4.46 on Friday. The stock has a market capitalization of $94.30 million, a P/E ratio of -0.56 and a beta of 3.95. FuelCell Energy has a one year low of $4.15 and a one year high of $37.20. The firm’s 50 day simple moving average is $6.39 and its two-hundred day simple moving average is $8.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48.

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

Institutional Investors Weigh In On FuelCell Energy

A number of hedge funds have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in FuelCell Energy during the fourth quarter valued at approximately $30,000. Integrated Wealth Concepts LLC raised its position in shares of FuelCell Energy by 7.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock valued at $28,000 after purchasing an additional 5,150 shares during the period. Squarepoint Ops LLC purchased a new position in shares of FuelCell Energy during the 4th quarter valued at $99,000. ExodusPoint Capital Management LP bought a new position in FuelCell Energy in the 4th quarter worth $112,000. Finally, Aristides Capital LLC purchased a new stake in FuelCell Energy in the 4th quarter worth $170,000. Institutional investors own 42.78% of the company’s stock.

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.