Brokerages Set FuelCell Energy, Inc. (NASDAQ:FCEL) Target Price at $9.86

Key Points

• FuelCell Energy, Inc. has received an average rating of "Reduce" from analysts, with one sell and five hold recommendations, and a consensus price target of $9.86.
• Recent changes in institutional ownership include significant stakes acquired by firms such as Federated Hermes Inc., which lifted its stake by 254.0%.
• The company reported a loss of ($1.79) earnings per share in its recent quarterly earnings, missing estimates, despite revenue surpassing expectations at $37.41 million.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) has been assigned an average recommendation of "Reduce" from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $9.8583.

Separately, B. Riley cut their price objective on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a research report on Friday, June 13th.

Institutional Trading of FuelCell Energy

Institutional investors and hedge funds have recently modified their holdings of the business. Federated Hermes Inc. increased its position in shares of FuelCell Energy by 254.0% in the first 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 in the last quarter. Penserra Capital Management LLC boosted 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 in the last quarter. Marshall Wace LLP bought a new position in FuelCell Energy during the fourth quarter valued at approximately $860,000. Bank of New York Mellon Corp increased its position in FuelCell Energy by 18.6% during the first quarter. Bank of New York Mellon Corp now owns 51,764 shares of the energy company's stock worth $238,000 after acquiring an additional 8,121 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in FuelCell Energy during the fourth quarter worth $444,000. Hedge funds and other institutional investors own 42.78% of the company's stock.

FuelCell Energy Price Performance

FCEL stock traded down $0.27 during mid-day trading on Friday, hitting $4.39. 888,766 shares of the stock were exchanged, compared to its average volume of 1,306,684. The stock has a market capitalization of $100.05 million, a price-to-earnings ratio of -0.58 and a beta of 4.15. The business has a fifty day moving average price of $5.59 and a 200 day moving average price of $5.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.62 and a quick ratio of 3.82. FuelCell Energy has a 12 month low of $3.58 and a 12 month high of $16.09.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings results on Friday, June 6th. The energy company reported ($1.79) EPS for the quarter, missing analysts' consensus estimates of ($1.51) by ($0.28). The company had revenue of $37.41 million during the quarter, compared to the consensus estimate of $32.42 million. FuelCell Energy had a negative return on equity of 21.16% and a negative net margin of 108.52%. During the same period in the prior year, the firm earned ($2.10) earnings per share. On average, sell-side analysts anticipate that FuelCell Energy will post -6.11 EPS for the current year.

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.