FuelCell Energy (NASDAQ:FCEL) Now Covered by Barclays

Equities researchers at Barclays began coverage on shares of FuelCell Energy (NASDAQ:FCEL) in a report issued on Thursday, Briefing.com reports. The brokerage set an “equal weight” rating and a $20.00 price target on the energy company’s stock. Barclays‘s price target indicates a potential upside of 16.41% from the company’s current price.

FCEL has been the topic of a number of other research reports. Citigroup initiated coverage on shares of FuelCell Energy in a report on Tuesday, September 15th. They set a “neutral” rating and a $19.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and issued a $30.00 price objective on shares of FuelCell Energy in a research report on Thursday, September 3rd. Wall Street Zen cut shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $20.00 price objective (down from $24.00) on shares of FuelCell Energy in a research note on Thursday, September 3rd. Finally, TD Cowen reissued a “hold” rating and set a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $21.56.

FuelCell Energy Stock Down 3.8%

Shares of FuelCell Energy stock opened at $17.18 on Thursday. The company has a market cap of $1.37 billion, a P/E ratio of -5.01 and a beta of 2.35. The company has a current ratio of 8.67, a quick ratio of 7.77 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $18.97 and its two-hundred day simple moving average is $16.75. FuelCell Energy has a 12-month low of $5.71 and a 12-month high of $37.88.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Wednesday, September 2nd. The energy company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.23). FuelCell Energy had a negative return on equity of 16.85% and a negative net margin of 113.60%.The firm had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $38.79 million. Research analysts anticipate that FuelCell Energy will post -2.09 EPS for the current year.

Insiders Place Their Bets

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, the executive vice president owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Homer Livingston, III acquired 16,404 shares of the stock in a transaction dated Monday, September 14th. The shares were bought at an average price of $15.05 per share, with a total value of $246,880.20. Following the completion of the purchase, the director directly owned 42,747 shares of the company’s stock, valued at approximately $643,342.35. This trade represents a 62.27% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its stake in FuelCell Energy by 444.4% in the 2nd quarter. Allworth Financial LP now owns 1,301 shares of the energy company’s stock valued at $47,000 after acquiring an additional 1,062 shares during the period. NewEdge Advisors LLC lifted its holdings in FuelCell Energy by 301.3% during the second quarter. NewEdge Advisors LLC now owns 1,605 shares of the energy company’s stock valued at $58,000 after purchasing an additional 1,205 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of FuelCell Energy in the second quarter valued at about $90,000. Integrated Wealth Concepts LLC acquired a new stake in shares of FuelCell Energy in the second quarter valued at about $120,000. Finally, IPG Investment Advisors LLC purchased a new stake in shares of FuelCell Energy during the second quarter worth about $273,000. 42.78% of the stock is owned by hedge funds and other institutional investors.

About FuelCell Energy

FuelCell Energy, Inc is a clean energy technology company that develops, manufactures, operates and services stationary fuel cell power platforms. Its systems generate electricity through an electrochemical process, producing power with low emissions and without combustion. The company serves utilities, commercial and industrial customers, municipalities, universities and other organizations seeking distributed and resilient energy solutions.

The company’s offerings include its SureSource fuel cell platforms, which can be configured for applications such as on-site power generation, microgrids, combined heat and power, and grid-support services.