FuelCell Energy (NASDAQ:FCEL) Price Target Raised to $8.00 at Wells Fargo & Company

FuelCell Energy (NASDAQ:FCEL) had its target price lifted by research analysts at Wells Fargo & Company from $6.00 to $8.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 54.29% from the company’s previous close.

A number of other equities research analysts also recently weighed in on FCEL. Jefferies Financial Group raised their price target on shares of FuelCell Energy from $7.20 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group raised their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. TD Cowen restated a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy presently has an average rating of “Reduce” and an average target price of $15.04.

FuelCell Energy Trading Up 3.3%

FCEL opened at $17.50 on Tuesday. The company’s 50 day moving average is $15.16 and its 200-day moving average is $10.37. FuelCell Energy has a 1-year low of $3.78 and a 1-year high of $27.69. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.18 billion, a P/E ratio of -2.66 and a beta of 2.42.

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 analysts’ consensus estimates of ($0.52) by ($0.01). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The company had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same quarter in the previous year, the business posted ($1.79) earnings per share. Equities research analysts predict that FuelCell Energy will post -1.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently modified their holdings of the company. Kestra Advisory Services LLC acquired a new position in FuelCell Energy during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its holdings in FuelCell Energy by 1,316.0% during the third 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 last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd acquired a new position in FuelCell Energy during the fourth quarter worth $78,000. Franklin Resources Inc. acquired a new position in FuelCell Energy during the fourth quarter worth $84,000. Finally, Optiver Holding B.V. acquired a new position in FuelCell Energy during the first quarter worth $88,000. 42.78% of the stock is owned by institutional investors and hedge funds.

FuelCell Energy Company Profile

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.