Wall Street Zen cut shares of FuelCell Energy (NASDAQ:FCEL – Free Report) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.
FCEL has been the subject of several other reports. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. TD Cowen reissued a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, September 8th. Wells Fargo & Company raised their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy presently has a consensus rating of “Hold” and a consensus price target of $21.75.
Get Our Latest Stock Analysis on FuelCell Energy
FuelCell Energy Trading Down 0.8%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The energy company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.41) by ($0.23). FuelCell Energy had a negative return on equity of 16.85% and a negative net margin of 113.60%.The firm had revenue of $33.00 million during the quarter, compared to analysts’ expectations of $38.79 million. As a group, sell-side analysts anticipate that FuelCell Energy will post -2.09 earnings per share for the current fiscal year.
Insider Transactions at FuelCell Energy
In other news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Homer Livingston, III bought 16,404 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was acquired at an average cost of $15.05 per share, for a total transaction of $246,880.20. Following the completion of the purchase, the director directly owned 42,747 shares in the company, valued at approximately $643,342.35. This represents a 62.27% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 5.46% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On FuelCell Energy
A number of institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of FuelCell Energy by 459.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 312,536 shares of the energy company’s stock valued at $2,040,000 after purchasing an additional 256,640 shares during the last quarter. Bank of America Corp DE lifted its holdings in FuelCell Energy by 1,298.3% during the 1st quarter. Bank of America Corp DE now owns 190,724 shares of the energy company’s stock worth $1,245,000 after buying an additional 177,084 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of FuelCell Energy in the second quarter valued at $6,094,000. Baird Financial Group Inc. purchased a new position in FuelCell Energy in the second quarter valued at $31,193,000. Finally, Tidal Investments LLC grew its stake in FuelCell Energy by 61.1% during the 2nd quarter. Tidal Investments LLC now owns 244,049 shares of the energy company’s stock worth $8,788,000 after purchasing an additional 92,572 shares in the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.
FuelCell Energy Company Profile
FuelCell Energy, Inc is a clean energy technology company that develops, manufactures, operates and services stationary fuel cell power platforms. Its systems generate electricity through an electrochemical process, producing power with low emissions and without combustion. The company serves utilities, commercial and industrial customers, municipalities, universities and other organizations seeking distributed and resilient energy solutions.
The company’s offerings include its SureSource fuel cell platforms, which can be configured for applications such as on-site power generation, microgrids, combined heat and power, and grid-support services.
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