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

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

A number of other brokerages have also weighed in on FCEL. StockNews.com initiated coverage on shares of FuelCell Energy in a report on Tuesday. They issued a “sell” rating for the company. UBS Group dropped their target price on FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Finally, Canaccord Genuity Group cut their price target on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating on the stock in a research note on Friday, September 6th. Two 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 has an average rating of “Hold” and a consensus price target of $19.17.

FuelCell Energy Price Performance

FuelCell Energy stock opened at $6.16 on Wednesday. The business’s fifty day moving average is $10.72 and its two-hundred day moving average is $16.66. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. The firm has a market cap of $114.05 million, a P/E ratio of -0.79 and a beta of 3.91. FuelCell Energy has a 52 week low of $5.45 and a 52 week high of $55.20.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($2.10). The business had revenue of $23.70 million for the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned ($1.80) EPS. Equities research analysts forecast that FuelCell Energy will post -7.21 earnings per share for the current fiscal year.

Institutional Trading of FuelCell Energy

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC lifted its stake in shares of FuelCell Energy by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after purchasing an additional 1,466,442 shares during the period. SG Americas Securities LLC boosted 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 purchasing an additional 2,873,171 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock worth $1,512,000 after buying an additional 216,539 shares in the last quarter. Penserra Capital Management LLC grew its stake in shares of 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its position in FuelCell Energy by 7.3% in the second quarter. Bank of New York Mellon Corp now owns 1,677,126 shares of the energy company’s stock valued at $1,071,000 after purchasing an additional 114,267 shares in the last quarter. Institutional investors and hedge funds own 42.78% of the company’s stock.

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.