FuelCell Energy, Inc. (FCEL) Receives $1.75 Consensus Target Price from Brokerages

FuelCell Energy, Inc. (NASDAQ:FCEL) has been assigned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $2.00.

FCEL has been the topic of several recent research reports. Zacks Investment Research lowered shares of FuelCell Energy from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. ValuEngine lowered shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Cowen and Company reduced their target price on shares of FuelCell Energy from $2.50 to $2.00 and set an “outperform” rating on the stock in a report on Friday, June 9th. Finally, Raymond James Financial, Inc. initiated coverage on shares of FuelCell Energy in a report on Tuesday, August 15th. They set a “market perform” rating on the stock.

Shares of FuelCell Energy (NASDAQ:FCEL) remained flat at $1.50 during mid-day trading on Friday. 1,195,830 shares of the company’s stock traded hands. The firm’s market capitalization is $89.36 million. FuelCell Energy has a 1-year low of $0.80 and a 1-year high of $5.67. The stock has a 50-day moving average price of $1.50 and a 200 day moving average price of $1.35.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Thursday, September 7th. The energy company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.08). The business had revenue of $10.36 million for the quarter, compared to analyst estimates of $16.78 million. FuelCell Energy had a negative net margin of 78.60% and a negative return on equity of 51.88%. The business’s revenue was down 52.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) EPS. On average, equities analysts forecast that FuelCell Energy will post ($1.19) EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in FuelCell Energy by 99.4% in the 2nd quarter. Vanguard Group Inc. now owns 1,898,705 shares of the energy company’s stock worth $2,354,000 after buying an additional 946,548 shares in the last quarter. Robecosam AG lifted its holdings in FuelCell Energy by 35.7% in the 2nd quarter. Robecosam AG now owns 950,000 shares of the energy company’s stock worth $1,226,000 after buying an additional 250,000 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in FuelCell Energy in the 1st quarter worth $600,000. Levin Capital Strategies L.P. lifted its holdings in FuelCell Energy by 1,717.4% in the 1st quarter. Levin Capital Strategies L.P. now owns 310,776 shares of the energy company’s stock worth $427,000 after buying an additional 293,676 shares in the last quarter. Finally, CNA Financial Corp lifted its holdings in FuelCell Energy by 300.0% in the 2nd quarter. CNA Financial Corp now owns 207,156 shares of the energy company’s stock worth $257,000 after buying an additional 155,367 shares in the last quarter. Hedge funds and other institutional investors own 14.43% of the company’s stock.

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About FuelCell Energy

Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.

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