FuelCell Energy (NASDAQ:FCEL) Stock Price Down 6.6% – What’s Next?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) traded down 6.6% on Friday . The company traded as low as $19.99 and last traded at $18.9730. 1,120,928 shares changed hands 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FCEL. Wall Street Zen lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Sunday. TD Cowen reaffirmed a “hold” rating and issued a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $32.00 in a report on Monday, June 29th. UBS Group raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $27.00 in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and raised their target price for the stock from $16.00 to $24.00 in a research report on Friday, June 26th. Four equities research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.83.

FuelCell Energy Stock Up 0.5%

The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The business has a 50-day moving average price of $21.97 and a 200-day moving average price of $14.42. The firm has a market cap of $1.63 billion, a P/E ratio of -3.11 and a beta of 2.37.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million during the quarter, compared to the consensus estimate of $40.47 million. During the same quarter in the previous year, the firm earned ($1.79) earnings per share. On average, equities analysts forecast that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.

Insider Activity at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction dated 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 owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.46% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in FuelCell Energy by 31,021.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company’s stock valued at $1,078,000 after acquiring an additional 147,042 shares in the last quarter. CenterBook Partners LP purchased a new position in shares of FuelCell Energy in the 4th quarter valued at $9,348,000. Northwestern Mutual Wealth Management Co. raised its position in shares of FuelCell Energy by 1,173,840.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company’s stock worth $1,716,000 after acquiring an additional 234,768 shares in the last quarter. Legal & General Group Plc bought a new position in shares of FuelCell Energy in the 4th quarter worth $21,149,000. Finally, Virtu Financial LLC lifted its stake in shares of FuelCell Energy by 75.7% during the 4th quarter. Virtu Financial LLC now owns 85,655 shares of the energy company’s stock worth $626,000 after purchasing an additional 36,910 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.