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

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been assigned an average recommendation of “Reduce” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $10.23.

A number of analysts recently issued reports on FCEL shares. StockNews.com assumed coverage on FuelCell Energy in a research report on Tuesday, November 12th. They set a “sell” rating for the company. Wells Fargo & Company reduced their price target on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Canaccord Genuity Group reissued a “hold” rating and issued a $12.00 price target on shares of FuelCell Energy in a research note on Friday, December 20th. Jefferies Financial Group cut their price objective on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research report on Friday, December 20th. Finally, TD Cowen boosted their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, December 20th.

FuelCell Energy Stock Up 4.0 %

FCEL stock opened at $7.31 on Friday. The company has a 50 day moving average of $9.67 and a two-hundred day moving average of $10.86. The company has a market cap of $149.49 million, a price-to-earnings ratio of -0.92 and a beta of 3.36. FuelCell Energy has a 12-month low of $5.45 and a 12-month high of $43.20. The company has a quick ratio of 4.48, a current ratio of 6.01 and a debt-to-equity ratio of 0.20.

Institutional Investors Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in FuelCell Energy by 13.9% during 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 purchasing an additional 1,466,442 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after purchasing an additional 216,539 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of 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 valued at $1,412,000 after buying an additional 2,165,316 shares during the period. Rockefeller Capital Management L.P. increased its position in shares of FuelCell Energy by 4.2% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after buying an additional 22,153 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in FuelCell Energy by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock worth $207,000 after buying an additional 143,786 shares during the period. 42.78% of the stock is owned by institutional investors.

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.