FuelCell Energy (NASDAQ:FCEL) had its price target lowered by equities researchers at B. Riley from $11.00 to $10.00 in a research note issued on Friday, The Fly reports. The firm presently has a "neutral" rating on the energy company's stock. B. Riley's price objective points to a potential downside of 0.60% from the stock's previous close. The analysts noted that the move was a valuation call.
FCEL has been the subject of several other reports. JPMorgan Chase & Co. cut their target price on shares of FuelCell Energy from $10.00 to $9.00 and set an "underweight" rating for the company in a research note on Friday, March 5th. Northcoast Research initiated coverage on shares of FuelCell Energy in a research note on Tuesday, March 30th. They set a "neutral" rating for the company. Zacks Investment Research upgraded shares of FuelCell Energy from a "strong sell" rating to a "hold" rating in a research note on Wednesday, June 2nd. Wells Fargo & Company initiated coverage on shares of FuelCell Energy in a research note on Monday, April 19th. They set an "underweight" rating and a $9.00 target price for the company. Finally, Canaccord Genuity cut their target price on shares of FuelCell Energy from $13.50 to $9.00 and set a "hold" rating for the company in a research note on Friday. Three analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has a consensus rating of "Hold" and an average price target of $9.75.
Shares of FuelCell Energy stock opened at $10.06 on Friday. The business has a fifty day moving average price of $9.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 5.25 and a quick ratio of 4.08. FuelCell Energy has a 1-year low of $1.58 and a 1-year high of $29.44. The firm has a market capitalization of $3.24 billion, a PE ratio of -27.19 and a beta of 5.03.
FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Wednesday, June 9th. The energy company reported ($0.06) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.05) by ($0.01). FuelCell Energy had a negative net margin of 136.60% and a negative return on equity of 39.99%. During the same quarter last year, the firm earned ($0.07) EPS. On average, equities research analysts anticipate that FuelCell Energy will post -0.19 EPS for the current year.
In other news, CAO Jennifer D. Arasimowicz sold 8,000 shares of the company's stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $13.46, for a total value of $107,680.00. Also, Director John Christopher Groobey sold 16,000 shares of the company's stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $12.56, for a total transaction of $200,960.00. Following the completion of the sale, the director now directly owns 84,979 shares in the company, valued at approximately $1,067,336.24. The disclosure for this sale can be found here. Corporate insiders own 0.06% of the company's stock.
A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in FuelCell Energy by 164.7% during the 1st quarter. Advisory Services Network LLC now owns 18,099 shares of the energy company's stock worth $261,000 after acquiring an additional 11,261 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in FuelCell Energy during the 1st quarter valued at about $19,422,000. State of Wisconsin Investment Board acquired a new position in FuelCell Energy during the 1st quarter valued at about $4,643,000. Morgan Stanley lifted its position in FuelCell Energy by 49.7% during the 1st quarter. Morgan Stanley now owns 3,933,821 shares of the energy company's stock valued at $56,687,000 after purchasing an additional 1,306,179 shares during the period. Finally, California State Teachers Retirement System lifted its position in FuelCell Energy by 9.1% during the 1st quarter. California State Teachers Retirement System now owns 475,117 shares of the energy company's stock valued at $6,846,000 after purchasing an additional 39,658 shares during the period. 33.98% of the stock is currently owned by hedge funds and other institutional investors.
About FuelCell Energy
FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and carbon utilization, as well as micro-grid and multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.
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