FuelCell Energy (NASDAQ:FCEL) Stock Price Expected to Rise, TD Cowen Analyst Says

FuelCell Energy (NASDAQ:FCEL) had its target price raised by TD Cowen from $2.00 to $12.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. They currently have a hold rating on the energy company’s stock.

A number of other research analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of FuelCell Energy in a research report on Tuesday, November 12th. They issued a “sell” rating on the stock. UBS Group reduced their target price on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Canaccord Genuity Group lowered their price target on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a report on Friday, September 6th. Finally, Wells Fargo & Company reduced their price objective on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.23.

FuelCell Energy Stock Performance

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

Institutional Trading of FuelCell Energy

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of FuelCell Energy by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock worth $1,071,000 after purchasing an additional 114,267 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in FuelCell Energy by 43.8% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock valued at $811,000 after buying an additional 386,751 shares in the last quarter. Rhumbline Advisers boosted its position in FuelCell Energy by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 859,359 shares of the energy company’s stock valued at $549,000 after buying an additional 58,773 shares during the period. Inspire Investing LLC grew its stake in FuelCell Energy by 90.3% in the 2nd quarter. Inspire Investing LLC now owns 565,014 shares of the energy company’s stock worth $361,000 after acquiring an additional 268,126 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of FuelCell Energy by 106.0% during the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after acquiring an additional 26,223 shares during the period. Institutional investors own 42.78% of the company’s stock.

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.