FuelCell Energy (NASDAQ:FCEL) Price Target Cut to $8.00 by Analysts at B. Riley

FuelCell Energy (NASDAQ:FCEL - Free Report) had its price target reduced by B. Riley from $9.00 to $8.00 in a research report sent to investors on Friday,Benzinga reports. B. Riley currently has a neutral rating on the energy company's stock.

FuelCell Energy Price Performance

FCEL traded down $0.29 on Friday, hitting $6.03. 865,873 shares of the company's stock traded hands, compared to its average volume of 1,282,962. The company's 50 day simple moving average is $4.64 and its 200-day simple moving average is $6.95. The firm has a market cap of $137.43 million, a price-to-earnings ratio of -0.76 and a beta of 4.12. FuelCell Energy has a one year low of $3.58 and a one year high of $24.90. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its earnings results on Friday, June 6th. The energy company reported ($1.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.51) by ($0.28). The business had revenue of $37.41 million for the quarter, compared to the consensus estimate of $32.42 million. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. During the same period last year, the business posted ($2.10) EPS. As a group, research analysts anticipate that FuelCell Energy will post -6.11 EPS for the current year.

Institutional Trading of FuelCell Energy

A number of large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its stake in FuelCell Energy by 254.0% in the 1st quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company's stock worth $2,440,000 after acquiring an additional 381,450 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of FuelCell Energy by 167.6% during the 1st quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company's stock valued at $898,000 after purchasing an additional 122,638 shares during the last quarter. Marshall Wace LLP bought a new position in shares of FuelCell Energy during the 4th quarter valued at approximately $860,000. Bank of New York Mellon Corp increased its position in shares of FuelCell Energy by 18.6% during the 1st quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company's stock valued at $238,000 after purchasing an additional 8,121 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of FuelCell Energy during the 4th quarter valued at approximately $444,000. Institutional investors own 42.78% of the company's stock.

FuelCell Energy Company Profile

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.