FuelCell Energy (NASDAQ:FCEL) Price Target Lowered to $5.00 at Wells Fargo & Company

FuelCell Energy (NASDAQ:FCEL) had its price objective lowered by Wells Fargo & Company from $30.00 to $5.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the energy company’s stock.

Several other equities analysts also recently weighed in on the stock. StockNews.com initiated coverage on shares of FuelCell Energy in a research note on Tuesday. They issued a “sell” rating on the stock. Canaccord Genuity Group decreased their price target on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a research note on Friday, September 6th. Finally, UBS Group decreased their price target on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, FuelCell Energy presently has a consensus rating of “Hold” and a consensus price target of $19.17.

FuelCell Energy Stock Performance

FCEL opened at $5.96 on Wednesday. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18. The company has a market cap of $110.32 million, a price-to-earnings ratio of -0.76 and a beta of 3.91. FuelCell Energy has a 52-week low of $5.45 and a 52-week high of $55.20. The firm’s fifty day simple moving average is $10.97 and its two-hundred day simple moving average is $16.88.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Thursday, September 5th. The energy company reported ($2.10) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.10). The business had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.22 million. FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. During the same period last year, the firm posted ($1.80) earnings per share. Equities analysts anticipate that FuelCell Energy will post -7.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC increased its position in FuelCell Energy by 139.6% during the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after purchasing an additional 2,165,316 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after purchasing an additional 216,539 shares during the last quarter. Banque Cantonale Vaudoise increased its position in FuelCell Energy by 42.0% during the third quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock worth $46,000 after purchasing an additional 36,120 shares during the last quarter. Bogart Wealth LLC increased its position in FuelCell Energy by 21,285.7% during the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock worth $43,000 after purchasing an additional 111,750 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in FuelCell Energy by 156.6% during the third quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after purchasing an additional 2,873,171 shares during the last quarter. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.