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

FuelCell Energy, Inc. (NASDAQ:FCEL) has received a consensus recommendation of “Reduce” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.23.

A number of research firms have commented on FCEL. StockNews.com started coverage on FuelCell Energy in a research note on Tuesday, November 12th. They set a “sell” rating on the stock. Jefferies Financial Group decreased their price target on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research report on Friday, December 20th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a research report on Friday, December 20th. TD Cowen raised their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a report on Friday, December 20th. Finally, UBS Group cut their price target on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a report on Tuesday, December 3rd.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors have recently added to or reduced their stakes in FCEL. Geode Capital Management LLC boosted its position in FuelCell Energy by 13.9% in the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after buying an additional 1,466,442 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of FuelCell Energy by 156.6% during the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock valued at $1,789,000 after acquiring an additional 2,873,171 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in FuelCell Energy by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after acquiring an additional 216,539 shares during the last quarter. Penserra Capital Management LLC increased its holdings in FuelCell Energy by 139.6% in the 3rd quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after purchasing an additional 2,165,316 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in FuelCell Energy by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock valued at $1,071,000 after purchasing an additional 114,267 shares during the last quarter. 42.78% of the stock is currently owned by institutional investors and hedge funds.

FuelCell Energy Stock Down 0.9 %

Shares of FCEL opened at $9.59 on Tuesday. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. FuelCell Energy has a 12 month low of $5.45 and a 12 month high of $45.60. The firm’s 50 day moving average is $10.07 and its 200-day moving average is $12.03. The stock has a market capitalization of $196.12 million, a PE ratio of -1.21 and a beta of 3.41.

About FuelCell Energy

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.