FuelCell Energy (NASDAQ:FCEL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants with virtually no air pollution and reduced greenhouse gas emissions using a variety of fuels including renewable biogas and domestically-available fuels like natural gas. “
FCEL has been the subject of a number of other reports. Roth Capital raised FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.00 to $4.00 in a research note on Friday, February 9th. Cowen set a $3.00 price target on FuelCell Energy and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, B. Riley reaffirmed a “buy” rating on shares of FuelCell Energy in a research note on Friday, March 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $3.42.
FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Thursday, March 8th. The energy company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.04. FuelCell Energy had a negative net margin of 37.86% and a negative return on equity of 46.40%. The company had revenue of $38.61 million for the quarter, compared to the consensus estimate of $32.27 million. During the same period in the prior year, the company posted ($0.39) EPS. The company’s revenue was up 127.1% compared to the same quarter last year. equities research analysts anticipate that FuelCell Energy will post -0.6 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in FCEL. Vanguard Group Inc. increased its stake in shares of FuelCell Energy by 99.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,898,705 shares of the energy company’s stock valued at $2,354,000 after acquiring an additional 946,548 shares during the last quarter. Renaissance Technologies LLC bought a new stake in FuelCell Energy during the 4th quarter worth approximately $1,479,000. Deutsche Bank AG increased its stake in FuelCell Energy by 80,189.2% during the 4th quarter. Deutsche Bank AG now owns 542,755 shares of the energy company’s stock worth $922,000 after purchasing an additional 542,079 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in FuelCell Energy during the 4th quarter worth approximately $651,000. Finally, BlackRock Inc. increased its stake in FuelCell Energy by 36.8% during the 4th quarter. BlackRock Inc. now owns 961,140 shares of the energy company’s stock worth $1,635,000 after purchasing an additional 258,559 shares in the last quarter. 15.57% of the stock is owned by institutional investors.
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FuelCell Energy Company Profile
Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.
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