B. Riley Cuts FuelCell Energy (NASDAQ:FCEL) Price Target to $9.00

FuelCell Energy (NASDAQ:FCEL) had its price objective reduced by equities research analysts at B. Riley from $12.00 to $9.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the energy company’s stock. B. Riley’s target price indicates a potential upside of 38.14% from the stock’s previous close.

A number of other brokerages also recently issued reports on FCEL. TD Cowen increased their price objective on FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. UBS Group dropped their price target on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. Wells Fargo & Company decreased their price objective on shares of FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Jefferies Financial Group dropped their target price on shares of FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $12.00 price target on shares of FuelCell Energy in a research note on Friday, December 20th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $10.03.

FuelCell Energy Stock Performance

Shares of NASDAQ FCEL traded down $0.05 during midday trading on Wednesday, hitting $6.52. The company’s stock had a trading volume of 466,776 shares, compared to its average volume of 1,293,688. The firm has a market capitalization of $137.75 million, a price-to-earnings ratio of -0.83 and a beta of 3.71. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average price of $8.19 and a 200 day moving average price of $9.86. FuelCell Energy has a one year low of $5.12 and a one year high of $37.20.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.52) by $0.10. The firm had revenue of $19.00 million for the quarter, compared to the consensus estimate of $35.37 million. FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. During the same quarter in the prior year, the business posted ($1.25) earnings per share. On average, research analysts forecast that FuelCell Energy will post -6.11 EPS for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

A number of hedge funds have recently made changes to their positions in FCEL. Banque Cantonale Vaudoise raised its position in FuelCell Energy by 42.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock worth $46,000 after purchasing an additional 36,120 shares during the period. Charles Schwab Investment Management Inc. grew its position in FuelCell Energy by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after acquiring an additional 216,539 shares during the last quarter. Penserra Capital Management LLC increased its stake in FuelCell Energy by 139.6% in the 3rd quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after purchasing an additional 2,165,316 shares during the period. Rockefeller Capital Management L.P. lifted its position in FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after purchasing an additional 22,153 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its position in FuelCell Energy by 7.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock valued at $28,000 after buying an additional 5,150 shares during the period. 42.78% of the stock is currently owned by institutional investors.

About FuelCell Energy

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.