StockNews.com Begins Coverage on FuelCell Energy (NASDAQ:FCEL)

Equities research analysts at StockNews.com assumed coverage on shares of FuelCell Energy (NASDAQ:FCEL) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the energy company’s stock.

FCEL has been the subject of several other research reports. UBS Group reduced their price target on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Canaccord Genuity Group reduced their target price on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a report on Friday, September 6th.

FuelCell Energy Stock Performance

FuelCell Energy stock traded down $0.98 during midday trading on Tuesday, reaching $5.70. 1,876,767 shares of the company traded hands, compared to its average volume of 1,052,877. FuelCell Energy has a 12 month low of $5.66 and a 12 month high of $55.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.91 and a quick ratio of 4.97. The business has a 50 day moving average of $0.50 and a two-hundred day moving average of $0.62. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -21.92 and a beta of 3.91.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($2.10). The firm had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.22 million. FuelCell Energy had a negative return on equity of 17.02% and a negative net margin of 135.76%. During the same period last year, the business posted ($1.80) EPS. As a group, research analysts predict that FuelCell Energy will post -0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FCEL. Penserra Capital Management LLC raised its stake in FuelCell Energy by 139.6% during the 3rd quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock worth $1,412,000 after acquiring an additional 2,165,316 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $1,512,000 after purchasing an additional 216,539 shares during the period. Banque Cantonale Vaudoise lifted its stake in shares of FuelCell Energy by 42.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock valued at $46,000 after buying an additional 36,120 shares in the last quarter. Bogart Wealth LLC boosted its holdings in FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock worth $43,000 after buying an additional 111,750 shares during the period. Finally, SG Americas Securities LLC increased its stake in FuelCell Energy by 156.6% in the 3rd quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after buying an additional 2,873,171 shares in the last quarter. 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.