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

FuelCell Energy, Inc. (NASDAQ:FCEL) has been assigned a consensus rating of “Reduce” from the six research firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.23.

Several brokerages recently weighed in on FCEL. UBS Group decreased their price target on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Jefferies Financial Group dropped their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research note on Friday, December 20th. Canaccord Genuity Group restated a “hold” rating and issued a $12.00 price objective on shares of FuelCell Energy in a research report on Friday, December 20th. StockNews.com began coverage on FuelCell Energy in a research report on Tuesday, November 12th. They set a “sell” rating on the stock. Finally, TD Cowen raised their price target on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a report on Friday, December 20th.

FuelCell Energy Stock Down 4.8 %

FuelCell Energy stock opened at $7.37 on Friday. The stock has a 50 day moving average of $9.88 and a two-hundred day moving average of $11.08. FuelCell Energy has a twelve month low of $5.45 and a twelve month high of $45.60. The stock has a market capitalization of $150.72 million, a price-to-earnings ratio of -0.93 and a beta of 3.36. The company has a current ratio of 6.01, a quick ratio of 4.48 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 company. JPMorgan Chase & Co. grew its holdings in FuelCell Energy by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after purchasing an additional 143,786 shares during the last quarter. Geode Capital Management LLC grew its stake in FuelCell Energy by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after acquiring an additional 1,466,442 shares during the last quarter. Point72 DIFC Ltd purchased a new position in FuelCell Energy during the 3rd quarter valued at about $90,000. Integrated Wealth Concepts LLC raised its position in FuelCell Energy by 7.5% during the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after acquiring an additional 5,150 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after purchasing an additional 22,153 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

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.