FuelCell Energy, Inc. (NASDAQ:FCEL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

According to Zacks, “FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants with virtually no air pollution and reduced greenhouse gas emissions using a variety of fuels including renewable biogas and domestically-available fuels like natural gas. “

FCEL has been the topic of a number of other reports. ValuEngine lowered shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Cowen and Company set a $2.00 price objective on shares of FuelCell Energy and gave the company a “buy” rating in a research note on Monday, July 10th. Finally, Raymond James Financial, Inc. started coverage on shares of FuelCell Energy in a research note on Tuesday. They issued a “market perform” rating on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $1.75.

FuelCell Energy (FCEL) traded down 0.68% during midday trading on Tuesday, reaching $1.45. 747,694 shares of the company’s stock traded hands. The company’s market capitalization is $86.38 million. FuelCell Energy has a 1-year low of $0.80 and a 1-year high of $5.67. The firm’s 50 day moving average price is $1.43 and its 200-day moving average price is $1.36.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Thursday, June 8th. The energy company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by $0.06. FuelCell Energy had a negative return on equity of 44.42% and a negative net margin of 60.75%. The company had revenue of $20.40 million for the quarter, compared to analyst estimates of $19.30 million. During the same quarter in the prior year, the business earned ($0.56) earnings per share. FuelCell Energy’s revenue was down 28.7% compared to the same quarter last year. Equities analysts expect that FuelCell Energy will post ($1.12) EPS for the current year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. KBC Group NV raised its position in FuelCell Energy by 36.8% in the first quarter. KBC Group NV now owns 86,310 shares of the energy company’s stock worth $119,000 after buying an additional 23,231 shares in the last quarter. Robecosam AG raised its position in FuelCell Energy by 16.7% in the first quarter. Robecosam AG now owns 700,000 shares of the energy company’s stock worth $998,000 after buying an additional 100,000 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in FuelCell Energy during the first quarter worth approximately $600,000. Bank of New York Mellon Corp raised its position in FuelCell Energy by 13.3% in the first quarter. Bank of New York Mellon Corp now owns 123,805 shares of the energy company’s stock worth $170,000 after buying an additional 14,521 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in FuelCell Energy by 90.1% in the second quarter. Goldman Sachs Group Inc. now owns 137,961 shares of the energy company’s stock worth $171,000 after buying an additional 65,392 shares in the last quarter. Institutional investors own 14.06% of the company’s stock.

About FuelCell Energy

Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.

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