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

FuelCell Energy, Inc. (NASDAQ:FCEL) has received a consensus rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $22.8333.

Several research firms have commented on FCEL. TD Cowen reaffirmed a “hold” rating and set a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Canaccord Genuity Group lifted their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, June 9th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $24.00 in a research report on Friday, June 26th. UBS Group upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $27.00 in a research note on Tuesday. Finally, B. Riley Financial raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $32.00 in a report on Monday, June 29th.

Insider Transactions at FuelCell Energy

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total transaction of $71,775.00. Following the sale, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. This represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.46% of the stock is owned by insiders.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc bought a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $21,149,000. CenterBook Partners LP purchased a new position in FuelCell Energy during the fourth quarter valued at approximately $9,348,000. Two Sigma Investments LP bought a new stake in FuelCell Energy during the 3rd quarter worth approximately $5,348,000. Invesco Ltd. increased its holdings in FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after acquiring an additional 647,151 shares during the period. Finally, Trexquant Investment LP increased its holdings in FuelCell Energy by 162.3% during the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after acquiring an additional 553,660 shares during the period. 42.78% of the stock is currently owned by hedge funds and other institutional investors.

FuelCell Energy Stock Performance

Shares of FCEL opened at $18.50 on Friday. FuelCell Energy has a 1 year low of $3.78 and a 1 year high of $37.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The stock’s fifty day moving average price is $22.03 and its two-hundred day moving average price is $13.00. The firm has a market cap of $1.25 billion, a PE ratio of -2.82 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The firm had revenue of $35.59 million for the quarter, compared to the consensus estimate of $40.47 million. During the same quarter in the previous year, the company posted ($1.79) EPS. On average, equities research analysts forecast that FuelCell Energy will post -1.84 EPS for the current 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.