Canaccord Genuity Group Reiterates “Hold” Rating for FuelCell Energy (NASDAQ:FCEL)

Canaccord Genuity Group restated their hold rating on shares of FuelCell Energy (NASDAQ:FCEL) in a report released on Friday,Benzinga reports. The firm currently has a $12.00 price objective on the energy company’s stock.

Several other equities analysts have also issued reports on the stock. StockNews.com began coverage on shares of FuelCell Energy in a report on Tuesday, November 12th. They set a “sell” rating for the company. UBS Group dropped their target price on FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating on the stock in a report on Tuesday, December 3rd. Wells Fargo & Company reduced their price target on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. Finally, TD Cowen upped their price target on shares of FuelCell Energy from $2.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.23.

FuelCell Energy Trading Up 11.7 %

Shares of NASDAQ FCEL opened at $10.42 on Friday. FuelCell Energy has a 1 year low of $5.45 and a 1 year 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 firm has a 50-day moving average of $9.79 and a 200 day moving average of $13.94. The stock has a market cap of $192.93 million, a P/E ratio of -1.33 and a beta of 3.64.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC raised its position in FuelCell Energy by 7.5% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after buying an additional 5,150 shares during the last quarter. Algert Global LLC bought a new stake in shares of FuelCell Energy in the second quarter worth approximately $29,000. AQR Capital Management LLC raised 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 purchasing an additional 26,223 shares during the last quarter. Bogart Wealth LLC lifted its position in FuelCell Energy by 21,285.7% during the third quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after purchasing an additional 111,750 shares during the period. Finally, Banque Cantonale Vaudoise grew 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. 42.78% of the stock is owned by 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.