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

FuelCell Energy (NASDAQ:FCEL) had its price target lowered 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.

Several other brokerages also recently issued reports on FCEL. StockNews.com began coverage on FuelCell Energy in a report on Tuesday, November 12th. They issued a “sell” rating on the stock. Wells Fargo & Company reduced their price target on shares of FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday, November 13th. UBS Group lowered their price target on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a research report on Tuesday, December 3rd. TD Cowen boosted their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group restated a “hold” rating and issued a $12.00 target price on shares of FuelCell Energy in a research report on Friday. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.23.

FuelCell Energy Price Performance

Shares of NASDAQ:FCEL opened at $10.42 on Friday. The company has a market cap of $192.93 million, a PE ratio of -1.33 and a beta of 3.64. FuelCell Energy has a fifty-two week low of $5.45 and a fifty-two week high of $55.20. The firm has a 50-day simple moving average of $9.78 and a 200 day simple moving average of $14.18. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FCEL. Geode Capital Management LLC lifted 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 purchasing an additional 1,466,442 shares during the period. SG Americas Securities LLC boosted its stake in FuelCell Energy by 156.6% during the third quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock valued at $1,789,000 after buying an additional 2,873,171 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock valued at $1,512,000 after buying an additional 216,539 shares in the last quarter. Penserra Capital Management LLC grew its holdings 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 worth $1,412,000 after acquiring an additional 2,165,316 shares during the period. Finally, Bank of New York Mellon Corp raised its position in 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 worth $1,071,000 after acquiring an additional 114,267 shares in the last quarter. 42.78% of the stock is currently owned by institutional investors.

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.