FuelCell Energy (NASDAQ:FCEL) Given Hold Rating at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their hold rating on shares of FuelCell Energy (NASDAQ:FCEL) in a report published on Friday,Benzinga reports. Canaccord Genuity Group currently has a $12.00 target price on the energy company’s stock.

Other analysts have also recently issued reports about the company. TD Cowen increased their price objective on FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday. UBS Group lowered their price objective on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a research report on Tuesday, December 3rd. Wells Fargo & Company dropped their price objective on shares of 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 issued a “sell” rating for the company. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to MarketBeat, FuelCell Energy has a consensus rating of “Hold” and a consensus target price of $10.23.

FuelCell Energy Price Performance

Shares of FCEL opened at $10.42 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. FuelCell Energy has a fifty-two week low of $5.45 and a fifty-two week high of $55.20. The firm has a 50-day simple moving average of $9.78 and a 200-day simple moving average of $14.18. The company has a market capitalization of $192.93 million, a price-to-earnings ratio of -1.33 and a beta of 3.64.

Hedge Funds Weigh In On FuelCell Energy

A number of large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC grew its position in FuelCell Energy by 7.5% during the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after buying an additional 5,150 shares during the period. Algert Global LLC purchased a new stake in shares of FuelCell Energy during the 2nd quarter worth approximately $29,000. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 26,223 shares in the last quarter. Bogart Wealth LLC grew its holdings in shares of FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock worth $43,000 after acquiring an additional 111,750 shares during the period. Finally, Banque Cantonale Vaudoise increased its stake in FuelCell Energy by 42.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock valued at $46,000 after purchasing an additional 36,120 shares in the last quarter. 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.