FuelCell Energy (NASDAQ:FCEL) Shares Gap Down – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $24.40, but opened at $23.24. FuelCell Energy shares last traded at $23.8480, with a volume of 2,236,360 shares changing hands.

Analyst Upgrades and Downgrades

FCEL has been the topic of several research reports. Wells Fargo & Company decreased their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 10th. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the stock a “hold” rating in a research note on Tuesday, March 10th. Seven analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Trading Down 0.4%

The company’s 50 day moving average price is $11.49 and its two-hundred day moving average price is $9.10. The company has a debt-to-equity ratio of 0.19, a current ratio of 7.96 and a quick ratio of 6.51. The stock has a market capitalization of $1.29 billion, a PE ratio of -3.50 and a beta of 2.22.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.68) by $0.16. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. The firm had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $42.22 million. As a group, analysts expect that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.

Institutional Investors Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently bought and sold shares of FCEL. Rhumbline Advisers increased its position in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after purchasing an additional 5,585 shares during the last quarter. Marshall Wace LLP acquired a new stake in FuelCell Energy during the second quarter worth about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after purchasing an additional 19,857 shares during the last quarter. Bank of America Corp DE increased its position in FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after purchasing an additional 4,435 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new stake in FuelCell Energy during the second quarter worth about $216,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.