FuelCell Energy, Inc. (NASDAQ:FCEL) Receives $18.75 Average PT from Brokerages

FuelCell Energy, Inc. (NASDAQ:FCEL) has earned an average rating of “Reduce” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.23.

Several brokerages have issued reports on FCEL. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $12.00 target price on shares of FuelCell Energy in a report on Friday. Wells Fargo & Company decreased their price target on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. UBS Group dropped their price objective on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. StockNews.com began coverage on FuelCell Energy in a report on Tuesday, November 12th. They issued a “sell” rating for the company. Finally, Jefferies Financial Group lowered their target price on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research note on Friday.

FuelCell Energy Price Performance

FCEL opened at $10.42 on Friday. The firm has a market cap of $192.93 million, a PE ratio of -1.33 and a beta of 3.64. The stock has a 50-day moving average price of $9.79 and a 200-day moving average price of $13.94. FuelCell Energy has a 1 year low of $5.45 and a 1 year high of $55.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.91 and a quick ratio of 4.97.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its stake in shares of FuelCell Energy by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock worth $4,567,000 after purchasing an additional 1,466,442 shares in the last quarter. SG Americas Securities LLC boosted its holdings in FuelCell Energy by 156.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after buying an additional 2,873,171 shares during the period. Charles Schwab Investment Management Inc. increased its stake in FuelCell Energy by 5.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after buying an additional 216,539 shares in the last quarter. Penserra Capital Management LLC raised its holdings in FuelCell Energy by 139.6% during the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock valued at $1,412,000 after acquiring an additional 2,165,316 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of FuelCell Energy by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock valued at $1,071,000 after acquiring an additional 114,267 shares in the last quarter. Hedge funds and other institutional investors 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.