FuelCell Energy (NASDAQ:FCEL) Sees Unusually-High Trading Volume – What’s Next?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) saw an uptick in trading volume on Tuesday . 3,174,941 shares changed hands during mid-day trading, an increase of 73% from the previous session’s volume of 1,832,400 shares.The stock last traded at $9.7110 and had previously closed at $8.65.

Analysts Set New Price Targets

Several brokerages have issued reports on FCEL. Wells Fargo & Company decreased their price objective on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research note on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the company a “hold” rating in a research note on Tuesday, March 10th. Zacks Research downgraded shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FuelCell Energy in a research note on Monday, December 29th. Seven equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $8.24.

FuelCell Energy Trading Up 24.3%

The company has a market capitalization of $625.16 million, a PE ratio of -1.71 and a beta of 1.41. The company’s fifty day moving average is $7.38 and its 200-day moving average is $7.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.16. The company had revenue of $30.53 million for the quarter, compared to analyst estimates of $42.22 million. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. On average, analysts anticipate that FuelCell Energy, Inc. will post -1.98 EPS for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

Several institutional investors have recently bought and sold shares of FCEL. Legal & General Group Plc purchased a new position in FuelCell Energy during the fourth quarter valued at approximately $21,149,000. CenterBook Partners LP purchased a new position in FuelCell Energy in the fourth quarter worth $9,348,000. Two Sigma Investments LP purchased a new position in FuelCell Energy in the third quarter worth $5,348,000. Invesco Ltd. grew its holdings in FuelCell Energy by 75.4% in the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after purchasing an additional 647,151 shares during the last quarter. Finally, Trexquant Investment LP grew its holdings in FuelCell Energy by 162.3% in the fourth quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock worth $6,541,000 after purchasing an additional 553,660 shares during the last quarter. 42.78% of the stock is owned by hedge funds and other institutional investors.

About FuelCell Energy

FuelCell Energy, Inc (NASDAQ: FCEL) is a publicly traded company that designs, manufactures and operates turnkey molten carbonate fuel cell power plants. These stationary, on-site energy solutions generate electricity and heat through an electrochemical process that combines natural gas or biogas with oxygen, producing power with lower greenhouse gas emissions than traditional fossil fuel-based generation. The company’s fuel cell technology is engineered for continuous, baseload operation and can be integrated into microgrid architectures and industrial power systems to provide reliable, around-the-clock energy.

The company’s core product suite, marketed under the SureSource brand, encompasses both power generation and integrated carbon capture or hydrogen production capabilities.