FuelCell Energy (NASDAQ:FCEL) Given New $5.00 Price Target at Wells Fargo & Company

FuelCell Energy (NASDAQ:FCEL) had its target price reduced by equities researchers at Wells Fargo & Company from $30.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “underweight” rating on the energy company’s stock. Wells Fargo & Company‘s target price points to a potential downside of 15.11% from the company’s current price.

A number of other equities analysts have also issued reports on FCEL. Canaccord Genuity Group lowered their target price on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a research report on Friday, September 6th. UBS Group decreased 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 note on Tuesday, August 6th. Finally, StockNews.com initiated coverage on shares of FuelCell Energy in a research note on Tuesday. They issued a “sell” rating on the stock. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, FuelCell Energy currently has an average rating of “Hold” and an average price target of $19.17.

FuelCell Energy Price Performance

NASDAQ:FCEL traded up $0.19 during midday trading on Wednesday, hitting $5.89. 1,254,760 shares of the company were exchanged, compared to its average volume of 1,053,892. FuelCell Energy has a fifty-two week low of $5.45 and a fifty-two week 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 company has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $16.95.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Thursday, September 5th. The energy company reported ($2.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.10). The firm had revenue of $23.70 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned ($1.80) EPS. Research analysts expect that FuelCell Energy will post -7.21 EPS for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds have recently modified their holdings of FCEL. 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 valued at $1,789,000 after buying an additional 2,873,171 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of FuelCell Energy by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock valued at $1,512,000 after acquiring an additional 216,539 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of FuelCell Energy by 139.6% in the third quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock valued at $1,412,000 after acquiring an additional 2,165,316 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of FuelCell Energy by 7.3% during the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock worth $1,071,000 after acquiring an additional 114,267 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in FuelCell Energy by 66.0% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,443,666 shares of the energy company’s stock worth $1,718,000 after purchasing an additional 574,042 shares in the last quarter. 42.78% of the stock is owned by institutional investors and hedge funds.

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.