FuelCell Energy (NASDAQ:FCEL) Price Target Cut to $8.00 by Analysts at B. Riley

FuelCell Energy (NASDAQ:FCEL) had its price objective reduced by stock analysts at B. Riley from $9.00 to $8.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the energy company’s stock. B. Riley’s target price indicates a potential upside of 32.67% from the company’s current price.

FuelCell Energy Price Performance

FCEL opened at $6.03 on Friday. The company’s 50 day simple moving average is $4.64 and its 200-day simple moving average is $6.95. FuelCell Energy has a one year low of $3.58 and a one year high of $24.90. The stock has a market capitalization of $137.43 million, a P/E ratio of -0.76 and a beta of 4.12. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.51) by ($0.28). FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. The business had revenue of $37.41 million during the quarter, compared to analyst estimates of $32.42 million. During the same quarter in the prior year, the company earned ($2.10) earnings per share. Sell-side analysts anticipate that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Hedge funds have recently bought and sold shares of the company. ExodusPoint Capital Management LP acquired a new stake in shares of FuelCell Energy during the fourth quarter worth $112,000. Aristides Capital LLC bought a new position in shares of FuelCell Energy in the 4th quarter valued at about $170,000. Federated Hermes Inc. bought a new position in shares of FuelCell Energy in the 4th quarter valued at about $1,357,000. Marshall Wace LLP bought a new position in shares of FuelCell Energy in the 4th quarter valued at about $860,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of FuelCell Energy in the 4th quarter valued at about $30,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.