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

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

A number of other research analysts have also recently issued reports on the stock. UBS Group decreased their price objective 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. StockNews.com began coverage on FuelCell Energy in a research note on Tuesday. They issued a “sell” rating for the company. Finally, Canaccord Genuity Group lowered their target price on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $19.17.

FuelCell Energy Price Performance

Shares of NASDAQ FCEL opened at $6.16 on Wednesday. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18. The firm has a market cap of $114.05 million, a P/E ratio of -0.79 and a beta of 3.91. The business’s 50 day moving average is $10.72 and its 200-day moving average is $16.66. FuelCell Energy has a 1-year low of $5.45 and a 1-year high of $55.20.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, hitting the consensus estimate of ($2.10). The company had revenue of $23.70 million for the quarter, compared to analysts’ expectations 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 earned ($1.80) earnings per share. Equities research analysts predict that FuelCell Energy will post -7.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FCEL. SG Americas Securities LLC raised its stake in FuelCell Energy by 156.6% during 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 period. Penserra Capital Management LLC raised its holdings in shares of 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 valued at $1,412,000 after purchasing an additional 2,165,316 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of FuelCell Energy by 13.9% during the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock worth $4,567,000 after buying an additional 1,466,442 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in FuelCell Energy by 66.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock worth $1,718,000 after acquiring an additional 574,042 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of FuelCell Energy by 43.8% during the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company’s stock worth $811,000 after purchasing an additional 386,751 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.