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Zacks Investment Research Lowers FuelCell Energy (NASDAQ:FCEL) to Sell

Zacks Investment Research lowered shares of FuelCell Energy (NASDAQ:FCEL) from a hold rating to a sell rating in a report issued on Wednesday morning,…

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This article was originally published by ETF Daily News

Zacks Investment Research lowered shares of FuelCell Energy (NASDAQ:FCEL) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

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. “

Other equities research analysts have also recently issued reports about the stock. cut their price target on shares of FuelCell Energy from $7.00 to $5.50 and set a hold rating on the stock in a research report on Thursday, December 30th. Canaccord Genuity Group lowered their price objective on shares of FuelCell Energy from $7.00 to $5.50 and set a hold rating on the stock in a research note on Thursday, December 30th. B. Riley lowered their price objective on shares of FuelCell Energy from $8.00 to $6.00 and set a neutral rating on the stock in a research note on Thursday, December 30th. KeyCorp started coverage on shares of FuelCell Energy in a research note on Wednesday, January 5th. They set a sector weight rating on the stock. Finally, Craig Hallum upgraded shares of FuelCell Energy from a sell rating to a hold rating and set a $5.00 price objective on the stock in a research note on Wednesday, December 29th. Three investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat.com, FuelCell Energy currently has a consensus rating of Hold and a consensus target price of $6.14.

Shares of NASDAQ:FCEL opened at $3.90 on Wednesday. The company’s 50-day moving average price is $6.82 and its two-hundred day moving average price is $6.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 10.30 and a quick ratio of 9.03. FuelCell Energy has a one year low of $3.85 and a one year high of $29.44. The stock has a market capitalization of $1.43 billion, a PE ratio of -12.19 and a beta of 4.60.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Wednesday, December 29th. The energy company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.03). FuelCell Energy had a negative return on equity of 15.01% and a negative net margin of 145.23%. The business had revenue of $13.90 million for the quarter, compared to the consensus estimate of $21.55 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s quarterly revenue was down 18.2% compared to the same quarter last year. On average, analysts anticipate that FuelCell Energy will post -0.23 earnings per share for the current fiscal year.

In related news, CFO Michael S. Bishop sold 6,000 shares of the company’s stock in a transaction dated Wednesday, November 24th. The shares were sold at an average price of $9.24, for a total value of $55,440.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in FuelCell Energy in the 3rd quarter valued at about $31,000. Northwestern Mutual Wealth Management Co. bought a new stake in FuelCell Energy in the 2nd quarter valued at about $37,000. Point72 Hong Kong Ltd bought a new stake in FuelCell Energy in the 3rd quarter valued at about $44,000. O Shaughnessy Asset Management LLC boosted its holdings in FuelCell Energy by 21.3% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,131 shares of the energy company’s stock valued at $55,000 after purchasing an additional 1,428 shares during the period. Finally, DC Investments Management LLC bought a new stake in FuelCell Energy in the 3rd quarter valued at about $72,000. 37.18% of the stock is owned by hedge funds and other institutional investors.

FuelCell Energy Company Profile

FuelCell Energy, Inc develops environmentally responsible distributed baseload power solutions through proprietary molten-carbonate fuel cell technology. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.

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Analyst Recommendations for FuelCell Energy (NASDAQ:FCEL)

The post Zacks Investment Research Lowers FuelCell Energy (NASDAQ:FCEL) to Sell appeared first on ETF Daily News.

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