FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price was down 4.3% on Thursday . The company traded as low as $6.91 and last traded at $6.94. Approximately 592,053 shares were traded during trading, a decline of 98% from the average daily volume of 28,542,707 shares. The stock had previously closed at $7.25.
A number of equities analysts have weighed in on FCEL shares. Zacks Investment Research upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research report on Friday, September 17th. B. Riley cut their target price on shares of FuelCell Energy from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, FuelCell Energy presently has a consensus rating of “Hold” and a consensus target price of $8.40.
The business’s 50-day moving average price is $6.37 and its 200 day moving average price is $8.21. The company has a quick ratio of 3.32, a current ratio of 4.37 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $2.60 billion, a P/E ratio of -20.14 and a beta of 4.98.
Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in FuelCell Energy by 2.2% in the second quarter. Arizona State Retirement System now owns 87,645 shares of the energy company’s stock valued at $780,000 after purchasing an additional 1,858 shares in the last quarter. New York State Common Retirement Fund raised its stake in FuelCell Energy by 0.8% in the second quarter. New York State Common Retirement Fund now owns 271,742 shares of the energy company’s stock valued at $2,419,000 after purchasing an additional 2,142 shares in the last quarter. Amalgamated Bank raised its stake in FuelCell Energy by 7.3% in the first quarter. Amalgamated Bank now owns 38,308 shares of the energy company’s stock valued at $552,000 after purchasing an additional 2,614 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in FuelCell Energy in the second quarter valued at approximately $37,000. Finally, Hilltop Holdings Inc. raised its stake in FuelCell Energy by 52.0% in the first quarter. Hilltop Holdings Inc. now owns 15,900 shares of the energy company’s stock valued at $229,000 after purchasing an additional 5,440 shares in the last quarter. Institutional investors own 40.58% of the company’s stock.
About FuelCell Energy (NASDAQ:FCEL)
FuelCell Energy, Inc develops environmentally responsible distributed baseload power solutions through proprietary molten-carbonate fuel cell technology. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.
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