FuelCell Energy (NASDAQ:FCEL) Shares Down 8.1% – Time to Sell?

FuelCell Energy, Inc. (NASDAQ:FCEL) shares were down 8.1% during trading on Friday . The stock traded as low as $21.24 and last traded at $21.4090. Approximately 2,382,032 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 6,862,187 shares. The stock had previously closed at $23.30.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their price target for the company from $16.00 to $24.00 in a research report on Friday, June 26th. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. Finally, UBS Group upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.00 to $27.00 in a research report on Tuesday, July 14th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $22.83.

FuelCell Energy Stock Down 5.6%

The company has a market capitalization of $1.76 billion, a PE ratio of -3.34 and a beta of 2.31. 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 company has a 50-day moving average of $22.28 and a two-hundred day moving average of $13.44.

FuelCell Energy (NASDAQ:FCEL) last issued 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). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The company had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. During the same quarter in the previous year, the company earned ($1.79) EPS. Sell-side analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, 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 link. Company insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Several large investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new position in shares of FuelCell Energy in the fourth quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 worth $59,000 after purchasing an additional 7,080 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new stake in shares of FuelCell Energy during the 4th quarter valued at $78,000. Franklin Resources Inc. purchased a new position in shares of FuelCell Energy during the 4th quarter valued at $84,000. Finally, Optiver Holding B.V. purchased a new position in shares of FuelCell Energy during the 1st quarter valued at $88,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.