Brokerages Set FuelCell Energy, Inc. (NASDAQ:FCEL) Target Price at $22.83

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been assigned a consensus recommendation of “Hold” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $22.8333.

Several analysts have issued reports on FCEL shares. Canaccord Genuity Group upped their price objective on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wells Fargo & Company boosted their price target on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, June 16th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and raised their target price for the company from $16.00 to $24.00 in a report on Friday, June 26th. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $13.00 to $32.00 in a research report on Monday, June 29th. Finally, Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th.

Insider Buying and Selling

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the sale, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 5.46% of the stock is currently owned by insiders.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds have recently modified their holdings of FCEL. Legal & General Group Plc acquired a new position in FuelCell Energy in the 4th quarter valued at approximately $21,149,000. CenterBook Partners LP acquired a new stake in FuelCell Energy in the fourth quarter valued at $9,348,000. Two Sigma Investments LP acquired a new stake in FuelCell Energy in the third quarter valued at $5,348,000. Invesco Ltd. raised its position in FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after purchasing an additional 647,151 shares during the last quarter. Finally, Trexquant Investment LP raised its position in FuelCell Energy by 162.3% during the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after purchasing an additional 553,660 shares during the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Stock Up 3.8%

Shares of FuelCell Energy stock opened at $22.47 on Friday. The business’s 50 day simple moving average is $22.25 and its 200 day simple moving average is $13.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59. FuelCell Energy has a 52-week low of $3.78 and a 52-week high of $37.88. The firm has a market cap of $1.52 billion, a PE ratio of -3.42 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The company had revenue of $35.59 million during the quarter, compared to the consensus estimate of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same quarter in the prior year, the business earned ($1.79) earnings per share. On average, analysts predict that FuelCell Energy will post -1.84 earnings per share for the current fiscal year.

About FuelCell Energy

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.