FuelCell Energy (NASDAQ:FCEL) Price Target Lowered to $8.00 at B. Riley

FuelCell Energy (NASDAQ:FCEL) had its price target reduced by B. Riley from $9.00 to $8.00 in a research report report published on Friday morning,Benzinga reports. B. Riley currently has a neutral rating on the energy company’s stock.

FuelCell Energy Stock Down 4.6%

FCEL opened at $6.03 on Friday. FuelCell Energy has a fifty-two week low of $3.58 and a fifty-two week high of $26.64. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.48 and a current ratio of 6.01. The company has a market capitalization of $136.97 million, a P/E ratio of -0.76 and a beta of 4.12. The stock has a fifty day moving average of $4.64 and a 200-day moving average of $6.98.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.51) by ($0.28). FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. The firm had revenue of $37.41 million for the quarter, compared to analyst estimates of $32.42 million. During the same period in the prior year, the business posted ($2.10) EPS. On average, equities analysts expect that FuelCell Energy will post -6.11 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. raised its stake in FuelCell Energy by 254.0% in the first quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company’s stock valued at $2,440,000 after purchasing an additional 381,450 shares in the last quarter. Penserra Capital Management LLC raised its stake in FuelCell Energy by 167.6% in the first quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company’s stock valued at $898,000 after purchasing an additional 122,638 shares in the last quarter. Marshall Wace LLP acquired a new position in FuelCell Energy in the fourth quarter valued at about $860,000. Bank of New York Mellon Corp raised its stake in FuelCell Energy by 18.6% in the first quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company’s stock valued at $238,000 after purchasing an additional 8,121 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in FuelCell Energy in the fourth quarter valued at about $444,000. Institutional investors and hedge funds 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.