B. Riley Cuts FuelCell Energy (NASDAQ:FCEL) Price Target to $8.00

FuelCell Energy (NASDAQ:FCEL) had its price target lowered by B. Riley from $9.00 to $8.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the energy company’s stock.

FuelCell Energy Trading Down 4.6%

FCEL stock opened at $6.03 on Friday. FuelCell Energy has a 1-year low of $3.58 and a 1-year high of $24.90. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.01 and a quick ratio of 4.48. The company has a market capitalization of $137.43 million, a price-to-earnings ratio of -0.76 and a beta of 4.12. The business has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $6.92.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing the consensus estimate of ($1.51) by ($0.28). FuelCell Energy had a negative return on equity of 18.58% and a negative net margin of 113.09%. The business had revenue of $37.41 million during the quarter, compared to the consensus estimate of $32.42 million. During the same quarter in the previous year, the company earned ($2.10) earnings per share. Research analysts anticipate that FuelCell Energy will post -6.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new position in shares of FuelCell Energy during the 4th quarter valued at approximately $860,000. Federated Hermes Inc. purchased a new position in shares of FuelCell Energy in the fourth quarter valued at $1,357,000. Squarepoint Ops LLC purchased a new position in shares of FuelCell Energy in the fourth quarter valued at $99,000. Canada Pension Plan Investment Board purchased a new position in shares of FuelCell Energy in the fourth quarter valued at $30,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of FuelCell Energy in the fourth quarter valued at $444,000. 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.