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

FuelCell Energy, Inc. (NASDAQ:FCEL) has earned a consensus recommendation of “Reduce” from the nine research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating and seven have given a hold rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $8.2417.

Several brokerages have recently weighed in on FCEL. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Jefferies Financial Group set a $7.20 target price on shares of FuelCell Energy and gave the company a “hold” rating in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company reduced 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 note on Tuesday, March 10th.

FuelCell Energy Price Performance

FuelCell Energy stock opened at $24.64 on Friday. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -3.57 and a beta of 2.42. The firm’s fifty day moving average is $12.76 and its 200 day moving average is $9.53. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. FuelCell Energy has a 52-week low of $3.78 and a 52-week high of $27.69.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. The company had revenue of $30.53 million for the quarter, compared to the consensus estimate of $42.22 million. Sell-side analysts forecast that FuelCell Energy will post -2.18 EPS for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FCEL. Kestra Advisory Services LLC purchased a new position in FuelCell Energy in the 4th quarter worth about $29,000. Caitong International Asset Management Co. Ltd increased its stake in FuelCell Energy by 1,316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after buying an additional 7,080 shares during the period. Independent Advisor Alliance purchased a new position in FuelCell Energy in the 3rd quarter worth about $80,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in FuelCell Energy in the 4th quarter worth about $78,000. Finally, Franklin Resources Inc. purchased a new position in FuelCell Energy in the 4th quarter worth about $84,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.