FuelCell Energy, Inc. (NASDAQ:FCEL) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) have been assigned a consensus recommendation of “Reduce” from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.23.

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group reissued a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a research note on Friday, December 20th. Jefferies Financial Group decreased their price objective on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a report on Friday, December 20th. UBS Group dropped their target price on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a research note 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 research note on Wednesday, November 13th. Finally, StockNews.com initiated coverage on shares of FuelCell Energy in a research note on Tuesday, November 12th. They set a “sell” rating for the company.

FuelCell Energy Trading Down 4.8 %

Shares of FCEL stock opened at $7.37 on Friday. FuelCell Energy has a twelve month low of $5.45 and a twelve month high of $45.60. The company has a market capitalization of $150.72 million, a price-to-earnings ratio of -0.93 and a beta of 3.36. The firm has a 50-day moving average price of $9.88 and a 200 day moving average price of $11.08. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20.

Hedge Funds Weigh In On FuelCell Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Bogart Wealth LLC raised its holdings in FuelCell Energy by 21,285.7% in the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after buying an additional 111,750 shares during the period. Algert Global LLC acquired a new position in shares of FuelCell Energy during the 2nd quarter valued at $29,000. AQR Capital Management LLC boosted its position in FuelCell Energy by 106.0% during the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after purchasing an additional 26,223 shares during the period. JPMorgan Chase & Co. increased its holdings in FuelCell Energy by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after purchasing an additional 143,786 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in FuelCell Energy by 13.9% in the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after purchasing an additional 1,466,442 shares during the period. 42.78% of the stock is 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.