FuelCell Energy's (FCEL) Sell (E+) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated its "sell (e+)" rating for FuelCell Energy (FCEL) amidst ongoing performance concerns, reflecting a consensus target price of $8.78.
• FuelCell Energy reported a significant loss of ($3.78) earnings per share for the last quarter, missing analysts' expectations and signaling financial instability.
• Despite the negative outlook, institutional investors have shown interest, with several firms increasing their stakes in the company during the first quarter.

FuelCell Energy (NASDAQ:FCEL - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also issued reports on FCEL. B. Riley dropped their price objective on FuelCell Energy from $9.00 to $8.00 and set a "neutral" rating for the company in a research note on Friday, June 13th. Canaccord Genuity Group reissued a "hold" rating and set a $12.00 price objective on shares of FuelCell Energy in a research note on Monday, September 15th. Finally, UBS Group lifted their price objective on FuelCell Energy from $4.50 to $7.25 and gave the company a "neutral" rating in a research note on Wednesday, September 17th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $8.78.

FuelCell Energy Price Performance

Shares of NASDAQ FCEL opened at $10.23 on Wednesday. The stock has a market cap of $330.33 million, a PE ratio of -1.11 and a beta of 4.25. FuelCell Energy has a fifty-two week low of $3.58 and a fifty-two week high of $13.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.85 and a current ratio of 5.37. The stock has a fifty day moving average of $5.97 and a 200-day moving average of $5.31.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $48.30 million. FuelCell Energy had a negative net margin of 130.81% and a negative return on equity of 20.53%. During the same period in the prior year, the business posted ($1.94) EPS. Equities research analysts anticipate that FuelCell Energy will post -6.11 earnings per share for the current year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds have recently added to or reduced their stakes in FCEL. GAMMA Investing LLC lifted its stake in FuelCell Energy by 451.5% during the first quarter. GAMMA Investing LLC now owns 12,398 shares of the energy company's stock worth $57,000 after purchasing an additional 10,150 shares during the last quarter. Rhumbline Advisers boosted its holdings in FuelCell Energy by 21.1% during 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. Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 8,121 shares during the period. Penserra Capital Management LLC boosted its holdings in 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 acquiring an additional 122,638 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in FuelCell Energy by 254.0% during the 1st quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company's stock valued at $2,440,000 after acquiring an additional 381,450 shares during the period. 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.

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