FuelCell Energy, Inc. (FCEL) Now Covered by Analysts at CIBC
Equities research analysts at CIBC initiated coverage on shares of FuelCell Energy, Inc. (NASDAQ:FCEL) in a report released on Wednesday. The brokerage set an “outperform” rating and a $4.00 price target on the energy company’s stock. CIBC’s price objective suggests a potential upside of 111.64% from the company’s current price.
A number of other analysts also recently commented on the company. Cowen and Company reduced their price objective on FuelCell Energy from $2.50 to $2.00 and set an “outperform” rating for the company in a research report on Friday, June 9th. Zacks Investment Research lowered FuelCell Energy from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Raymond James Financial, Inc. initiated coverage on FuelCell Energy in a research report on Tuesday, August 15th. They set a “market perform” rating on the stock. FBR & Co restated a “hold” rating on shares of FuelCell Energy in a research report on Tuesday, September 5th. Finally, Roth Capital restated a “neutral” rating and issued a $1.50 target price on shares of FuelCell Energy in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $2.58.
FuelCell Energy (FCEL) opened at 1.89 on Wednesday. The company’s 50-day moving average price is $1.56 and its 200 day moving average price is $1.37. The company’s market capitalization is $116.21 million. FuelCell Energy has a 52 week low of $0.80 and a 52 week high of $5.67.
FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Thursday, September 7th. The energy company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). FuelCell Energy had a negative return on equity of 52.75% and a negative net margin of 78.60%. The firm had revenue of $10.36 million for the quarter, compared to analyst estimates of $16.78 million. During the same period last year, the business earned ($0.38) earnings per share. The firm’s quarterly revenue was down 52.3% compared to the same quarter last year. On average, equities research analysts anticipate that FuelCell Energy will post ($1.20) EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the business. KBC Group NV boosted its holdings in FuelCell Energy by 36.8% during the first quarter. KBC Group NV now owns 86,310 shares of the energy company’s stock valued at $119,000 after purchasing an additional 23,231 shares in the last quarter. LMR Partners LLP bought a new stake in shares of FuelCell Energy in the 2nd quarter valued at approximately $142,000. Bank of New York Mellon Corp grew its stake in shares of FuelCell Energy by 13.3% in the 1st quarter. Bank of New York Mellon Corp now owns 123,805 shares of the energy company’s stock valued at $170,000 after purchasing an additional 14,521 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of FuelCell Energy by 90.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 137,961 shares of the energy company’s stock valued at $171,000 after purchasing an additional 65,392 shares during the period. Finally, CNA Financial Corp grew its stake in shares of FuelCell Energy by 300.0% in the 2nd quarter. CNA Financial Corp now owns 207,156 shares of the energy company’s stock valued at $257,000 after purchasing an additional 155,367 shares during the period. Hedge funds and other institutional investors own 13.99% of the company’s stock.
About FuelCell Energy
Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.
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