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

FuelCell Energy (NASDAQ:FCEL) had its target price reduced by Wells Fargo & Company from $30.00 to $5.00 in a report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the energy company’s stock.

Several other analysts have also commented on FCEL. Canaccord Genuity Group lowered their price objective 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. UBS Group lowered their target price on 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 assumed coverage on FuelCell Energy in a research report on Tuesday, November 12th. They set a “sell” rating on the stock. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.17.

FuelCell Energy Price Performance

Shares of FuelCell Energy stock opened at $6.16 on Wednesday. The business has a 50 day moving average of $10.72 and a 200 day moving average of $16.58. FuelCell Energy has a 52 week low of $5.45 and a 52 week high of $55.20. The company has a market cap of $114.05 million, a PE ratio of -0.79 and a beta of 3.91. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, hitting the consensus estimate of ($2.10). The business had revenue of $23.70 million during the quarter, compared to analyst estimates of $23.22 million. FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. During the same period in the prior year, the business earned ($1.80) EPS. As a group, equities research analysts forecast that FuelCell Energy will post -7.21 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Hedge funds have recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new position in FuelCell Energy in the 1st quarter worth about $41,000. Algert Global LLC bought a new position in shares of FuelCell Energy in the second quarter worth approximately $29,000. AQR Capital Management LLC grew its holdings in shares of FuelCell Energy by 106.0% during the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock valued at $33,000 after buying an additional 26,223 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of FuelCell Energy by 7.5% during the third 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 last quarter. Finally, Fermata Advisors LLC increased its position in shares of FuelCell Energy by 54.5% during the second quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock valued at $53,000 after acquiring an additional 29,113 shares in the last quarter. 42.78% of the stock is 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.