FuelCell Energy's (FCEL) Hold Rating Reiterated at 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 equities research analysts at Canaccord Genuity Group in a research note issued to investors on Monday,Benzinga reports. They presently have a $12.00 target price on the energy company's stock. Canaccord Genuity Group's price target would suggest a potential upside of 74.67% from the stock's previous close.

Separately, B. Riley reduced their price objective 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $9.86.

FuelCell Energy Stock Up 6.3%

FCEL opened at $6.87 on Monday. 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 has a fifty-two week low of $3.58 and a fifty-two week high of $16.09. The firm's fifty day moving average is $4.79 and its 200 day moving average is $4.96. The stock has a market cap of $156.57 million, a price-to-earnings ratio of -0.75 and a beta of 4.14.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last announced its quarterly 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 company had revenue of $46.74 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the firm earned ($1.94) EPS. On average, sell-side analysts forecast that FuelCell Energy will post -6.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its holdings in FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company's stock valued at $103,000 after purchasing an additional 4,435 shares during the last quarter. Rhumbline Advisers raised its stake in shares of FuelCell Energy by 21.1% in the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock valued at $147,000 after acquiring an additional 5,585 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of FuelCell Energy in the 1st quarter valued at approximately $26,000. Bank of New York Mellon Corp raised its stake in shares of FuelCell Energy by 18.6% in 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 acquiring an additional 8,121 shares during the period. Finally, MinichMacGregor Wealth Management LLC purchased a new stake in shares of FuelCell Energy in the 2nd quarter valued at approximately $56,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.

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