FuelCell Energy (NASDAQ:FCEL) Price Target Cut to $5.00 by Analysts at Wells Fargo & Company

FuelCell Energy (NASDAQ:FCEL) had its price objective reduced by Wells Fargo & Company from $30.00 to $5.00 in a research note released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the energy company’s stock.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group decreased their price target on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a research note on Friday, September 6th. UBS Group reduced their price objective on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, StockNews.com started coverage on shares of FuelCell Energy in a research note on Tuesday. They set a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.17.

FuelCell Energy Trading Up 4.6 %

NASDAQ FCEL opened at $5.96 on Wednesday. The firm has a 50 day simple moving average of $10.97 and a 200-day simple moving average of $16.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. FuelCell Energy has a one year low of $5.45 and a one year high of $55.20. The firm has a market cap of $110.32 million, a price-to-earnings ratio of -0.76 and a beta of 3.91.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, meeting the consensus estimate of ($2.10). FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. The business had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.22 million. During the same quarter last year, the firm posted ($1.80) earnings per share. Equities research analysts anticipate that FuelCell Energy will post -7.21 EPS for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC acquired a new position in FuelCell Energy in the second quarter valued at $29,000. AQR Capital Management LLC increased its stake in FuelCell Energy by 106.0% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock valued at $33,000 after purchasing an additional 26,223 shares during the period. SageView Advisory Group LLC acquired a new position in FuelCell Energy in the first quarter valued at $41,000. Bogart Wealth LLC increased its stake in FuelCell Energy by 21,285.7% in the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after purchasing an additional 111,750 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in FuelCell Energy by 42.0% in the third quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock valued at $46,000 after purchasing an additional 36,120 shares during the period. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.