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

FuelCell Energy, Inc. (NASDAQ:FCEL) has earned a consensus recommendation of “Reduce” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $8.2417.

FCEL has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FuelCell Energy in a research note on Monday, December 29th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research note on Friday, December 19th. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company dropped their target price on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group set a $7.20 price objective on shares of FuelCell Energy and gave the stock a “hold” rating in a research report on Tuesday, March 10th.

Insider Activity

In related news, Director Betsy B. Bingham sold 8,608 shares of FuelCell Energy stock in a transaction on Monday, December 22nd. The shares were 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 Securities & Exchange Commission, which is accessible through this hyperlink. 5.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after acquiring an additional 5,585 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of FuelCell Energy in the 2nd quarter worth $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of FuelCell Energy by 6.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock valued at $1,877,000 after purchasing an additional 19,857 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of FuelCell Energy by 31.9% in the second 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. Finally, Brevan Howard Capital Management LP bought a new position in shares of FuelCell Energy during the second quarter valued at about $216,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

FuelCell Energy Price Performance

FCEL stock opened at $6.59 on Friday. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The firm has a market cap of $349.14 million, a price-to-earnings ratio of -0.95 and a beta of 1.33. The company’s fifty day simple moving average is $7.83 and its 200 day simple moving average is $7.84. FuelCell Energy has a 12-month low of $3.58 and a 12-month high of $11.99.

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