FuelCell Energy (NASDAQ:FCEL) Shares Down 7.1% – Here’s What Happened

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price traded down 7.1% on Thursday . The company traded as low as $20.21 and last traded at $20.13. 6,021,333 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 7,013,481 shares. The stock had previously closed at $21.67.

Analysts Set New Price Targets

Several research firms have recently weighed in on FCEL. Wells Fargo & Company upped their price objective on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, June 16th. TD Cowen reissued a “hold” rating and issued a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Jefferies Financial Group raised FuelCell Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Finally, Canaccord Genuity Group increased their price target on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Trading Down 7.3%

The firm has a market cap of $1.61 billion, a P/E ratio of -3.05 and a beta of 2.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The stock has a 50 day moving average of $21.83 and a 200 day moving average of $14.69.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The company had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.During the same period last year, the firm earned ($1.79) earnings per share. As a group, equities research analysts predict that FuelCell Energy, Inc. will post -1.73 EPS for the current year.

Insider Buying and Selling at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This represents a 48.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FCEL. Kestra Advisory Services LLC acquired a new stake in shares of FuelCell Energy in the fourth quarter worth $29,000. Bank of America Corp DE raised its holdings in FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after acquiring an additional 4,435 shares during the last quarter. Rhumbline Advisers boosted its position in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after acquiring an additional 5,585 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in FuelCell Energy by 1,316.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares during the period. Finally, Entropy Technologies LP boosted its position in shares of FuelCell Energy by 28.6% during the 1st quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock worth $245,000 after purchasing an additional 8,336 shares during the period. Institutional investors own 42.78% of the company’s stock.

FuelCell Energy Company Profile

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.