FuelCell Energy, Inc. (FCEL) Coverage Initiated by Analysts at CIBC
CIBC initiated coverage on shares of FuelCell Energy, Inc. (NASDAQ:FCEL) in a research note published on Wednesday morning. The firm issued an outperform rating and a $4.00 target price on the energy company’s stock.
Several other research firms also recently commented on FCEL. Cowen and Company reaffirmed a buy rating and issued a $2.50 price target on shares of FuelCell Energy in a research note on Sunday, September 10th. Raymond James Financial, Inc. initiated coverage on shares of FuelCell Energy in a research note on Tuesday, August 15th. They issued a market perform rating on the stock. Zacks Investment Research downgraded shares of FuelCell Energy from a hold rating to a sell rating in a research note on Tuesday, August 15th. Oppenheimer Holdings, Inc. initiated coverage on shares of FuelCell Energy in a research note on Wednesday. They issued an outperform rating and a $4.00 price target on the stock. Finally, Roth Capital reaffirmed a neutral rating and issued a $1.50 price target on shares of FuelCell Energy in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $2.90.
FuelCell Energy (NASDAQ FCEL) traded up 1.80% during trading on Wednesday, hitting $2.26. 4,469,177 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $1.59 and a 200 day moving average price of $1.38. The company’s market cap is $138.96 million. FuelCell Energy has a 52-week low of $0.80 and a 52-week high of $5.54.
FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Thursday, September 7th. The energy company reported ($0.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.08). The firm had revenue of $10.36 million during the quarter, compared to analysts’ expectations of $16.78 million. FuelCell Energy had a negative net margin of 78.60% and a negative return on equity of 52.75%. The company’s revenue was down 52.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.38) EPS. On average, equities research analysts predict that FuelCell Energy will post ($1.20) earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of FCEL. Bank of New York Mellon Corp grew its holdings in FuelCell Energy by 13.3% during the 1st quarter. Bank of New York Mellon Corp now owns 123,805 shares of the energy company’s stock worth $170,000 after acquiring an additional 14,521 shares in the last quarter. Parametric Portfolio Associates LLC bought a new position in FuelCell Energy during the 1st quarter worth about $600,000. KBC Group NV grew its holdings in FuelCell Energy by 36.8% during the 1st quarter. KBC Group NV now owns 86,310 shares of the energy company’s stock worth $119,000 after acquiring an additional 23,231 shares in the last quarter. LMR Partners LLP bought a new position in FuelCell Energy during the 2nd quarter worth about $142,000. Finally, CNA Financial Corp grew its holdings in FuelCell Energy by 300.0% during the 2nd quarter. CNA Financial Corp now owns 207,156 shares of the energy company’s stock worth $257,000 after acquiring an additional 155,367 shares in the last quarter. 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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