Zacks Investment Research downgraded shares of FuelCell Energy (NASDAQ:FCEL) from a hold rating to a sell rating in a report released on Tuesday, June 12th.
According to Zacks, “FuelCell Energy develops and markets ultra-clean power plants that generate electricity with up to twice the efficiency of conventional fossil fuel plants with virtually no air pollution and reduced greenhouse gas emissions using a variety of fuels including renewable biogas and domestically-available fuels like natural gas. “
Several other equities analysts also recently weighed in on FCEL. B. Riley reiterated a buy rating on shares of FuelCell Energy in a research report on Friday, March 9th. ValuEngine upgraded FuelCell Energy from a strong sell rating to a sell rating in a report on Saturday, June 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $3.50.
FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Thursday, June 7th. The energy company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.06). FuelCell Energy had a negative net margin of 37.67% and a negative return on equity of 46.14%. The company had revenue of $20.83 million for the quarter, compared to analyst estimates of $20.43 million. During the same period in the previous year, the business earned ($0.33) EPS. equities analysts predict that FuelCell Energy will post -0.71 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. KBC Group NV boosted its position in FuelCell Energy by 23.8% during the 4th quarter. KBC Group NV now owns 289,051 shares of the energy company’s stock valued at $491,000 after purchasing an additional 55,586 shares during the period. Bank of New York Mellon Corp boosted its position in FuelCell Energy by 154.5% during the 4th quarter. Bank of New York Mellon Corp now owns 62,038 shares of the energy company’s stock valued at $105,000 after purchasing an additional 37,661 shares during the period. BlackRock Inc. boosted its position in FuelCell Energy by 36.8% during the 4th quarter. BlackRock Inc. now owns 961,140 shares of the energy company’s stock valued at $1,635,000 after purchasing an additional 258,559 shares during the period. Hudson Bay Capital Management LP bought a new stake in FuelCell Energy during the 4th quarter valued at $651,000. Finally, Geode Capital Management LLC raised its stake in FuelCell Energy by 27.6% during the 4th quarter. Geode Capital Management LLC now owns 367,979 shares of the energy company’s stock valued at $625,000 after acquiring an additional 79,572 shares in the last quarter. Institutional investors own 15.16% of the company’s stock.
About FuelCell Energy
FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed power generation. The company offers SureSource power plants, a tri-generation distributed hydrogen configuration that generates electricity, heat, and hydrogen for commercial, industrial, government, and utility customers; and fuel cell carbon capture solution for coal or gas-fired power plants.
Get a free copy of the Zacks research report on FuelCell Energy (FCEL)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for FuelCell Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FuelCell Energy and related companies with MarketBeat.com's FREE daily email newsletter.
