FuelCell Energy (NASDAQ:FCEL) Trading Down 6.6% – Time to Sell?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) fell 6.6% during trading on Friday . The stock traded as low as $19.99 and last traded at $18.9730. Approximately 1,120,928 shares were traded during mid-day trading, a decline of 84% from the average session volume of 6,951,006 shares. The stock had previously closed at $20.32.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of FuelCell Energy from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Jefferies Financial Group upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their price objective for the stock from $16.00 to $24.00 in a report on Friday, June 26th. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $32.00 in a research report on Monday, June 29th. Finally, TD Cowen reiterated a “hold” rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. 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 Performance

The company has a market cap of $1.58 billion, a P/E ratio of -3.01 and a beta of 2.37. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $21.99 and its 200 day moving average price is $14.38.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). The firm had revenue of $35.59 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted ($1.79) earnings per share. As a group, research analysts expect that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the completion of the transaction, the executive vice president owned 2,618 shares of the company’s stock, valued at $75,162.78. The trade was a 48.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.46% of the stock is owned by company insiders.

Institutional Investors Weigh In On FuelCell Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc acquired a new stake in shares of FuelCell Energy in the fourth quarter worth $21,149,000. CenterBook Partners LP acquired a new position in FuelCell Energy during the 4th quarter valued at $9,348,000. Two Sigma Investments LP acquired a new position in FuelCell Energy during the 3rd quarter valued at $5,348,000. Invesco Ltd. boosted its holdings in FuelCell Energy by 75.4% in the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after purchasing an additional 647,151 shares during the period. Finally, Trexquant Investment LP boosted its holdings in FuelCell Energy by 162.3% in the 4th quarter. Trexquant Investment LP now owns 894,800 shares of the energy company’s stock valued at $6,541,000 after purchasing an additional 553,660 shares during the period. 42.78% of the stock is owned by institutional investors and hedge funds.

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.