FuelCell Energy (NASDAQ:FCEL) Given New $8.40 Price Target at Jefferies Financial Group

FuelCell Energy (NASDAQ:FCEL - Free Report) had its price target reduced by Jefferies Financial Group from $15.00 to $8.40 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the energy company's stock.

A number of other research analysts have also issued reports on FCEL. Wells Fargo & Company reduced their target price on shares of FuelCell Energy from $30.00 to $5.00 and set an "underweight" rating on the stock in a report on Wednesday, November 13th. TD Cowen raised their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the stock a "hold" rating in a research report on Friday. StockNews.com initiated coverage on shares of FuelCell Energy in a research note on Tuesday, November 12th. They issued a "sell" rating for the company. Canaccord Genuity Group restated a "hold" rating and set a $12.00 price objective on shares of FuelCell Energy in a report on Friday. Finally, UBS Group dropped their target price on FuelCell Energy from $15.00 to $13.75 and set a "neutral" rating for the company in a research note 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.23.

FuelCell Energy Price Performance

Shares of FCEL traded up $1.09 during mid-day trading on Friday, reaching $10.42. 2,378,270 shares of the company's stock were exchanged, compared to its average volume of 1,195,453. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18. FuelCell Energy has a 52-week low of $5.45 and a 52-week high of $55.20. The company has a market cap of $192.93 million, a price-to-earnings ratio of -1.33 and a beta of 3.64. The company has a 50-day simple moving average of $9.78 and a two-hundred day simple moving average of $14.18.

Institutional Investors Weigh In On FuelCell Energy

A number of institutional investors have recently added to or reduced their stakes in FCEL. Geode Capital Management LLC raised its holdings in FuelCell Energy by 13.9% in 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 buying an additional 1,466,442 shares during the period. SG Americas Securities LLC lifted its holdings in shares of FuelCell Energy by 156.6% during 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 purchasing an additional 216,539 shares during the period. Penserra Capital Management LLC lifted its stake in shares of 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 worth $1,412,000 after purchasing an additional 2,165,316 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake 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 buying an additional 114,267 shares in the last quarter. Hedge funds and other institutional investors own 42.78% of the company's stock.

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.