FuelCell Energy, Inc. (NASDAQ:FCEL) Receives $8.24 Consensus Price Target from Brokerages

FuelCell Energy, Inc. (NASDAQ:FCEL) has been assigned an average recommendation of “Reduce” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating and seven have issued a hold rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.2417.

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 10th. TD Cowen lifted their price objective on FuelCell Energy from $7.00 to $9.00 and gave the company a “hold” rating in a research report on Friday, December 19th. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $12.00 target price on shares of FuelCell Energy in a research report on Friday, December 19th. Finally, Zacks Research downgraded FuelCell Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th.

Insider Buying and Selling

In related news, Director Betsy B. Bingham sold 8,608 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $8.52, for a total value of $73,340.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

Institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC acquired a new position in shares of FuelCell Energy during the 4th quarter worth $29,000. Bank of America Corp DE lifted its stake in shares of 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 purchasing an additional 4,435 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of FuelCell Energy by 21.1% in the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after purchasing an additional 5,585 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in FuelCell Energy during the third quarter worth $80,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

FuelCell Energy Stock Performance

FCEL stock opened at $7.03 on Friday. The firm has a 50 day simple moving average of $7.89 and a 200 day simple moving average of $7.81. FuelCell Energy has a 52 week low of $3.58 and a 52 week high of $11.99. The stock has a market cap of $372.45 million, a P/E ratio of -1.02 and a beta of 1.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.51 and a current ratio of 7.96.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. The company had revenue of $30.53 million during the quarter, compared to the consensus estimate of $42.22 million. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. Research analysts anticipate that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

FuelCell Energy Company Profile

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.