FuelCell Energy (NASDAQ:FCEL) Receives Hold Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reiterated a "hold" rating for FuelCell Energy (FCEL) with a target price of $12.00, suggesting a potential upside of 74.67% from its previous close.
• FuelCell Energy reported a significant loss of ($3.78) EPS for the recent quarter, missing analyst expectations, and had revenue of $46.74 million, below the forecast of $48.30 million.
• The stock's current consensus price target stands at $9.86, with five analysts rating it as a "hold" and one as a "sell."

FuelCell Energy (NASDAQ:FCEL - Get Free Report)'s stock had its "hold" rating restated by investment analysts at Canaccord Genuity Group in a report issued on Monday,Benzinga reports. They currently have a $12.00 target price on the energy company's stock. Canaccord Genuity Group's price target indicates a potential upside of 44.42% from the stock's current price.

Separately, B. Riley dropped their target price on shares of FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating on the stock in a research report on Friday, June 13th. Five research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, FuelCell Energy currently has an average rating of "Reduce" and an average price target of $8.78.

FuelCell Energy Price Performance

Shares of FCEL stock traded down $0.02 during midday trading on Monday, reaching $8.31. 3,135,833 shares of the company were exchanged, compared to its average volume of 1,543,267. FuelCell Energy has a 12 month low of $3.58 and a 12 month high of $13.98. The company has a market cap of $189.37 million, a P/E ratio of -0.90 and a beta of 4.13. The company's 50 day moving average price is $4.94 and its two-hundred day moving average price is $5.02. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.85 and a current ratio of 5.37.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The energy company reported ($3.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.59) by ($2.19). The business had revenue of $46.74 million during the quarter, compared to analyst estimates 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 prior year, the firm earned ($1.94) EPS. On average, sell-side analysts expect that FuelCell Energy will post -6.11 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. increased its stake in FuelCell Energy by 254.0% during the 1st quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company's stock worth $2,440,000 after purchasing an additional 381,450 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of FuelCell Energy by 167.6% in the 1st quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company's stock valued at $898,000 after buying an additional 122,638 shares during the last quarter. Nuveen LLC acquired a new stake in shares of FuelCell Energy in the 1st quarter valued at approximately $218,000. Brevan Howard Capital Management LP acquired a new stake in FuelCell Energy during the 2nd quarter valued at $216,000. Finally, Engineers Gate Manager LP lifted its holdings in FuelCell Energy by 128.8% during the 2nd quarter. Engineers Gate Manager LP now owns 40,277 shares of the energy company's stock valued at $226,000 after purchasing an additional 22,672 shares during the last quarter. 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.