FuelCell Energy (NASDAQ:FCEL) Price Target Cut to $8.40 by Analysts at Jefferies Financial Group

FuelCell Energy (NASDAQ:FCEL) had its price objective trimmed by Jefferies Financial Group from $15.00 to $8.40 in a research report report published on Friday,Benzinga reports. The brokerage currently has a hold rating on the energy company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com began coverage on shares of FuelCell Energy in a research note on Tuesday, November 12th. They set a “sell” rating on the stock. Wells Fargo & Company reduced their price objective on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a research note on Wednesday, November 13th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $12.00 target price on shares of FuelCell Energy in a research note on Friday. TD Cowen upped their target price on FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a report on Friday. Finally, UBS Group decreased their price target on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $10.23.

FuelCell Energy Stock Performance

Shares of FCEL opened at $10.42 on Friday. The company has a 50-day moving average of $9.78 and a two-hundred day 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. 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 one year low of $5.45 and a one year high of $55.20.

Hedge Funds Weigh In On FuelCell Energy

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position 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 worth $4,567,000 after acquiring an additional 1,466,442 shares in the last quarter. Point72 DIFC Ltd bought a new stake in FuelCell Energy in the third quarter worth $90,000. Integrated Wealth Concepts LLC increased its position in FuelCell Energy by 7.5% during the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock worth $28,000 after buying an additional 5,150 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in FuelCell Energy by 4.2% during the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after buying an additional 22,153 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position 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 worth $1,412,000 after buying an additional 2,165,316 shares during the last quarter. 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.