FuelCell Energy’s (FCEL) “Hold” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their hold rating on shares of FuelCell Energy (NASDAQ:FCEL) in a research note published on Friday,Benzinga reports. The brokerage currently has a $12.00 target price on the energy company’s stock.

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

FuelCell Energy Stock Performance

Shares of FCEL opened at $10.42 on Friday. FuelCell Energy has a 12-month low of $5.45 and a 12-month high of $55.20. The stock has a market cap of $192.93 million, a P/E ratio of -1.33 and a beta of 3.64. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18. The company has a 50-day moving average of $9.78 and a two-hundred day moving average of $14.18.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC acquired a new stake in FuelCell Energy in the 2nd quarter worth about $29,000. AQR Capital Management LLC lifted its holdings in shares of FuelCell Energy by 106.0% during the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after acquiring an additional 26,223 shares during the period. Integrated Wealth Concepts LLC boosted its position in shares of FuelCell Energy by 7.5% in the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after acquiring an additional 5,150 shares during the last quarter. Bogart Wealth LLC grew its holdings in FuelCell Energy by 21,285.7% in 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 increased its position in FuelCell Energy by 42.0% during the third 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 last quarter. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.