UBS Group Raises FuelCell Energy (NASDAQ:FCEL) Price Target to $7.25

Key Points

• FuelCell Energy's target price was raised from $4.50 to $7.25 by UBS Group, which maintains a "neutral" rating on the stock, suggesting a slight potential downside from its current price.
• The company reported a quarterly EPS of -$3.78, missing analyst estimates, along with a revenue of $46.74 million, below the expected $48.30 million.
• Institutional investors significantly increased their stakes, with Federated Hermes raising its stake by 254%, highlighting growing interest in the company despite its recent financial challenges.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) had its price target increased by stock analysts at UBS Group from $4.50 to $7.25 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the energy company's stock. UBS Group's price objective would suggest a potential downside of 13.28% from the company's current price.

FCEL has been the topic of a number of other reports. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $12.00 price objective on shares of FuelCell Energy in a research note on Monday, September 15th. B. Riley dropped their price objective on shares of FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $8.78.

FuelCell Energy Trading Up 0.4%

Shares of FCEL stock traded up $0.03 on Wednesday, reaching $8.36. 4,468,239 shares of the stock were exchanged, compared to its average volume of 3,120,260. The company has a quick ratio of 3.85, a current ratio of 5.37 and a debt-to-equity ratio of 0.21. FuelCell Energy has a 1-year low of $3.58 and a 1-year high of $13.98. The firm has a 50 day moving average of $5.00 and a two-hundred day moving average of $5.03. The stock has a market cap of $269.94 million, a P/E ratio of -0.91 and a beta of 4.13.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last announced its earnings results on Tuesday, September 9th. The energy company reported ($3.78) EPS for the quarter, missing the consensus estimate of ($1.59) by ($2.19). The firm had revenue of $46.74 million for the quarter, compared to the consensus estimate of $48.30 million. FuelCell Energy had a negative return on equity of 20.53% and a negative net margin of 130.81%.During the same period in the previous year, the firm earned ($1.94) EPS. On average, research analysts anticipate that FuelCell Energy will post -6.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE grew its holdings in shares of FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company's stock worth $103,000 after buying an additional 4,435 shares in the last quarter. Rhumbline Advisers lifted its stake in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock worth $147,000 after purchasing an additional 5,585 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in FuelCell Energy in the 1st quarter worth about $26,000. Bank of New York Mellon Corp boosted 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 purchasing an additional 8,121 shares during the period. Finally, MinichMacGregor Wealth Management LLC acquired a new stake in shares of FuelCell Energy in the second quarter valued at $56,000. 42.78% of the stock is currently owned by institutional investors.

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.