FuelCell Energy (NASDAQ:FCEL) Price Target Raised to $12.00 at TD Cowen

FuelCell Energy (NASDAQ:FCEL - Free Report) had its target price increased by TD Cowen from $2.00 to $12.00 in a report released on Friday morning, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the energy company's stock.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company dropped their price target 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. StockNews.com began coverage on shares of FuelCell Energy in a report on Tuesday, November 12th. They set a "sell" rating for the company. Canaccord Genuity Group cut their target price on shares of FuelCell Energy from $45.00 to $37.50 and set a "hold" rating for the company in a research report on Friday, September 6th. Finally, UBS Group lowered their price target on shares of FuelCell Energy from $15.00 to $13.75 and set a "neutral" rating on the stock in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.23.

FuelCell Energy Price Performance

FuelCell Energy stock traded up $1.09 during mid-day trading on Friday, reaching $10.42. The company had a trading volume of 2,378,270 shares, compared to its average volume of 1,195,453. The stock's 50-day simple moving average is $9.78 and its 200-day simple moving average is $14.18. The company has a market capitalization of $192.93 million, a P/E ratio of -1.33 and a beta of 3.64. The company has a debt-to-equity ratio of 0.18, a current ratio of 6.91 and a quick ratio of 4.97. FuelCell Energy has a 1 year low of $5.45 and a 1 year high of $55.20.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors and hedge funds have recently bought and sold shares of FCEL. SG Americas Securities LLC boosted its holdings in shares of 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 purchasing an additional 2,873,171 shares during the last quarter. Penserra Capital Management LLC grew its position in FuelCell Energy by 139.6% during 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 acquiring an additional 2,165,316 shares during the period. Geode Capital Management LLC grew its position in 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 valued at $4,567,000 after acquiring an additional 1,466,442 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in FuelCell Energy by 43.8% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 1,268,856 shares of the energy company's stock worth $811,000 after acquiring an additional 386,751 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of FuelCell Energy by 90.3% in the 2nd quarter. Inspire Investing LLC now owns 565,014 shares of the energy company's stock worth $361,000 after purchasing an additional 268,126 shares during the period. 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.