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

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

FCEL has been the subject of several other research reports. UBS Group cut their price target on FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, August 6th. Canaccord Genuity Group dropped their price objective on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a report on Friday, September 6th. Finally, StockNews.com initiated coverage on shares of FuelCell Energy in a research note on Tuesday, November 12th. They issued a “sell” rating for the company. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, FuelCell Energy currently has an average rating of “Hold” and an average price target of $19.17.

FuelCell Energy Stock Down 12.1 %

FuelCell Energy stock opened at $6.16 on Wednesday. FuelCell Energy has a fifty-two week low of $5.45 and a fifty-two week high of $55.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. The firm’s 50-day simple moving average is $10.72 and its 200 day simple moving average is $16.58. The stock has a market cap of $114.05 million, a PE ratio of -0.79 and a beta of 3.91.

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

Institutional Trading of FuelCell Energy

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in shares of 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 in the last quarter. Point72 DIFC Ltd bought a new position in FuelCell Energy during the 3rd quarter worth approximately $90,000. Integrated Wealth Concepts LLC increased its stake in FuelCell Energy by 7.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after purchasing an additional 5,150 shares during the period. Rockefeller Capital Management L.P. lifted its position in FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after purchasing an additional 22,153 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of 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 valued at $1,412,000 after purchasing an additional 2,165,316 shares during the period. 42.78% of the stock is owned by institutional investors.

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.