FuelCell Energy, Inc. (NASDAQ:FCEL) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been given a consensus rating of “Reduce” by the six research firms that are covering the firm, MarketBeat.com reports. One equities 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 brokerages that have updated their coverage on the stock in the last year is $10.23.

A number of equities analysts recently issued reports on the company. UBS Group dropped their price objective on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Wells Fargo & Company cut their price target on shares of FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a report on Friday, December 20th. TD Cowen upped their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group decreased their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research note on Friday, December 20th.

FuelCell Energy Stock Up 2.1 %

Shares of NASDAQ:FCEL opened at $10.60 on Friday. The firm has a market capitalization of $196.26 million, a PE ratio of -1.36 and a beta of 3.64. The business has a 50 day simple moving average of $9.84 and a two-hundred day simple moving average of $13.57. 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 large investors have recently modified their holdings of FCEL. SG Americas Securities LLC boosted its stake in shares of FuelCell Energy by 156.6% during the third quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock valued at $1,789,000 after purchasing an additional 2,873,171 shares in the last quarter. Penserra Capital Management LLC lifted 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 worth $1,412,000 after buying an additional 2,165,316 shares during the period. Geode Capital Management LLC boosted its position in FuelCell Energy by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after acquiring an additional 1,466,442 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of FuelCell Energy by 43.8% in 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 acquiring an additional 386,751 shares during the period. Finally, Inspire Investing LLC raised its position in shares of 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. 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.