Canaccord Genuity Group Reaffirms Hold Rating for FuelCell Energy (NASDAQ:FCEL)

Canaccord Genuity Group reaffirmed their hold rating on shares of FuelCell Energy (NASDAQ:FCEL - Free Report) in a research report report published on Friday morning,Benzinga reports. They currently have a $12.00 target price on the energy company's stock.

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

FuelCell Energy Trading Up 11.7 %

Shares of NASDAQ:FCEL traded up $1.09 during midday trading on Friday, hitting $10.42. The company had a trading volume of 2,378,270 shares, compared to its average volume of 1,195,453. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18. FuelCell Energy has a 12 month low of $5.45 and a 12 month high of $55.20. The firm has a fifty day simple moving average of $9.78 and a 200 day simple moving average of $14.18. The stock has a market cap of $192.93 million, a price-to-earnings ratio of -1.33 and a beta of 3.64.

Hedge Funds Weigh In On FuelCell Energy

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of FuelCell Energy by 13.9% during the third quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company's stock worth $4,567,000 after buying an additional 1,466,442 shares in the last quarter. SG Americas Securities LLC lifted 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 acquiring an additional 2,873,171 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in FuelCell Energy by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company's stock worth $1,512,000 after acquiring an additional 216,539 shares during the last quarter. Penserra Capital Management LLC raised 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 purchasing an additional 2,165,316 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of 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 during the last quarter. Institutional investors 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.