Brokerages Set FuelCell Energy, Inc. (NASDAQ:FCEL) PT at $8.24

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been given a consensus recommendation of “Reduce” by the nine brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.2417.

A number of research analysts recently weighed in on the company. Jefferies Financial Group set a $7.20 price objective on FuelCell Energy and gave the stock a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings lowered FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday. Zacks Research lowered FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wells Fargo & Company lowered their target price on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, March 10th. Finally, Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd.

Institutional Trading of FuelCell Energy

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in 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 valued at $1,078,000 after purchasing an additional 147,042 shares during the last quarter. GSA Capital Partners LLP purchased a new position in FuelCell Energy during the third quarter worth about $944,000. Bayforest Capital Ltd purchased a new position in FuelCell Energy during the fourth quarter worth about $410,000. Independent Advisor Alliance purchased a new position in FuelCell Energy during the third quarter worth about $80,000. Finally, Tower Research Capital LLC TRC lifted its position in FuelCell Energy by 638.2% during the second quarter. Tower Research Capital LLC TRC now owns 19,016 shares of the energy company’s stock worth $107,000 after buying an additional 16,440 shares during the period. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Stock Performance

Shares of FCEL stock opened at $13.70 on Monday. The business’s fifty day moving average price is $8.20 and its 200 day moving average price is $7.97. FuelCell Energy has a 1-year low of $3.78 and a 1-year high of $14.30. The firm has a market capitalization of $725.83 million, a PE ratio of -1.98 and a beta of 2.22. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $42.22 million. As a group, sell-side analysts forecast that FuelCell Energy will post -2.18 EPS 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.