TD Cowen Issues Positive Forecast for FuelCell Energy (NASDAQ:FCEL) Stock Price

FuelCell Energy (NASDAQ:FCEL) had its price target lifted by TD Cowen from $7.00 to $9.00 in a report issued on Friday. The brokerage currently has a “hold” rating on the energy company’s stock. TD Cowen’s price target would indicate a potential downside of 6.64% from the company’s current price.

A number of other equities research analysts have also recently commented on FCEL. Canaccord Genuity Group reaffirmed a “hold” rating on shares of FuelCell Energy in a report on Friday. UBS Group boosted their price target on FuelCell Energy from $4.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Zacks Research raised FuelCell Energy from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of FuelCell Energy in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.93.

FuelCell Energy Stock Performance

Shares of FCEL opened at $9.64 on Friday. The company’s 50 day simple moving average is $7.89 and its 200-day simple moving average is $6.58. The firm has a market cap of $311.32 million, a PE ratio of -1.05 and a beta of 1.17. FuelCell Energy has a 12-month low of $3.58 and a 12-month high of $13.98. The company has a current ratio of 5.37, a quick ratio of 3.85 and a debt-to-equity ratio of 0.21.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Thursday, December 18th. The energy company reported ($0.83) EPS for the quarter, beating the consensus estimate of ($0.97) by $0.14. The firm had revenue of $55.02 million during the quarter, compared to the consensus estimate of $47.23 million. FuelCell Energy had a negative net margin of 130.81% and a negative return on equity of 20.53%. During the same quarter in the prior year, the firm earned ($1.99) EPS. As a group, equities analysts predict that FuelCell Energy will post -6.11 EPS for the current year.

Hedge Funds Weigh In On FuelCell Energy

A number of large investors have recently modified their holdings of FCEL. Nuveen LLC acquired a new stake in shares of FuelCell Energy in the 1st quarter valued at approximately $218,000. Rhumbline Advisers grew its holdings in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after acquiring an additional 5,585 shares during the period. MinichMacGregor Wealth Management LLC purchased a new position in FuelCell Energy in the second quarter worth $56,000. Marshall Wace LLP acquired a new stake in FuelCell Energy in the second quarter valued at $122,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of FuelCell Energy by 6.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after purchasing an additional 19,857 shares in the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

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.