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

FuelCell Energy, Inc. (NASDAQ:FCEL) has been assigned an average rating of “Reduce” from the six ratings firms that are currently covering the company, Marketbeat.com 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 price target among brokerages that have covered the stock in the last year is $10.23.

FCEL has been the subject of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research report on Friday, December 20th. UBS Group dropped their target price on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Wells Fargo & Company decreased their price target on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a report on Wednesday, November 13th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $12.00 price objective on shares of FuelCell Energy in a research note on Friday, December 20th. Finally, TD Cowen lifted their target price on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research note on Friday, December 20th.

FuelCell Energy Trading Up 2.1 %

Shares of NASDAQ:FCEL opened at $10.60 on Friday. The stock has a 50 day moving average of $9.84 and a 200 day moving average of $13.57. The company has a market cap of $196.26 million, a PE ratio of -1.36 and a beta of 3.64. FuelCell Energy has a 12-month low of $5.45 and a 12-month high of $55.20. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently added to or reduced their stakes in FCEL. SG Americas Securities LLC increased its holdings in shares of FuelCell Energy by 156.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after buying an additional 2,873,171 shares during the last quarter. Penserra Capital Management LLC grew its position in FuelCell Energy by 139.6% in the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after acquiring an additional 2,165,316 shares in the last quarter. Geode Capital Management LLC increased its stake in FuelCell Energy by 13.9% during the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock worth $4,567,000 after acquiring an additional 1,466,442 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in FuelCell Energy by 43.8% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock worth $811,000 after acquiring an additional 386,751 shares during the last quarter. Finally, Inspire Investing LLC raised its position in FuelCell Energy by 90.3% during the second quarter. Inspire Investing LLC now owns 565,014 shares of the energy company’s stock valued at $361,000 after purchasing an additional 268,126 shares during the period. Hedge funds and other institutional investors 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.