FuelCell Energy, Inc. (NASDAQ:FCEL) Receives $22.83 Consensus Target Price from Analysts

FuelCell Energy, Inc. (NASDAQ:FCEL) has been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.8333.

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $32.00 in a report on Monday, June 29th. UBS Group raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $22.00 to $27.00 in a research report on Tuesday, July 14th. Finally, Canaccord Genuity Group lifted their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th.

Insider Buying and Selling at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the transaction, the executive vice president owned 2,618 shares in the company, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of FuelCell Energy by 31,021.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company’s stock worth $1,078,000 after buying an additional 147,042 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of FuelCell Energy by 1,173,840.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company’s stock valued at $1,716,000 after acquiring an additional 234,768 shares during the last quarter. CenterBook Partners LP acquired a new position in shares of FuelCell Energy during the 4th quarter valued at about $9,348,000. Legal & General Group Plc bought a new position in shares of FuelCell Energy in the 4th quarter valued at approximately $21,149,000. Finally, Virtu Financial LLC raised its stake in shares of FuelCell Energy by 75.7% in the 4th quarter. Virtu Financial LLC now owns 85,655 shares of the energy company’s stock valued at $626,000 after acquiring an additional 36,910 shares in the last quarter. 42.78% of the stock is owned by institutional investors and hedge funds.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $19.84 on Friday. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. FuelCell Energy has a 1 year low of $3.78 and a 1 year high of $37.88. The business has a fifty day simple moving average of $22.11 and a 200 day simple moving average of $13.12. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -3.02 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. During the same period in the previous year, the business posted ($1.79) EPS. As a group, sell-side analysts predict that FuelCell Energy will post -1.84 earnings per share for the current fiscal year.

About FuelCell Energy

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.