Brokerages Set FuelCell Energy, Inc. (NASDAQ:FCEL) PT at $8.78

FuelCell Energy, Inc. (NASDAQ:FCEL) has earned a consensus rating of “Hold” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $8.7750.

Several research firms have recently weighed in on FCEL. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of FuelCell Energy in a research report on Wednesday, October 8th. Canaccord Genuity Group restated a “hold” rating and issued a $12.00 target price on shares of FuelCell Energy in a research note on Monday, September 15th. Zacks Research raised shares of FuelCell Energy from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, UBS Group lifted their price objective on shares of FuelCell Energy from $4.50 to $7.25 and gave the company a “neutral” rating in a report on Wednesday, September 17th.

FuelCell Energy Stock Up 4.3%

NASDAQ FCEL opened at $7.71 on Monday. The stock’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $6.07. FuelCell Energy has a one year low of $3.58 and a one year high of $13.98. The firm has a market cap of $248.99 million, a PE ratio of -0.84 and a beta of 4.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 5.37 and a quick ratio of 3.85.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Tuesday, September 9th. The energy company reported ($3.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.59) by ($2.19). FuelCell Energy had a negative net margin of 130.81% and a negative return on equity of 20.53%. The firm had revenue of $46.74 million for the quarter, compared to analyst estimates of $48.30 million. During the same period last year, the company earned ($1.94) EPS. As a group, sell-side analysts forecast that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

Institutional Trading of FuelCell Energy

A number of hedge funds have recently made changes to their positions in FCEL. Bank of America Corp DE grew 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 last quarter. Rhumbline Advisers boosted its holdings in shares of FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after acquiring an additional 5,585 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of FuelCell Energy in the first quarter valued at approximately $26,000. Bank of New York Mellon Corp grew its position in shares of 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 during the last quarter. Finally, MinichMacGregor Wealth Management LLC bought a new position in shares of FuelCell Energy during the second quarter worth approximately $56,000. 42.78% of the stock is owned by institutional investors and hedge funds.

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.