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

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $19.54, but opened at $18.69. FuelCell Energy shares last traded at $17.6710, with a volume of 1,595,996 shares trading hands.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a research note on Monday, August 17th. Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the company from $16.00 to $24.00 in a research note on Friday, June 26th. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Finally, TD Cowen reaffirmed 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. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Stock Performance

The firm has a market capitalization of $1.54 billion, a PE ratio of -2.94 and a beta of 2.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59. The business’s fifty day simple moving average is $22.29 and its 200-day simple moving average is $15.44.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results 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 company had revenue of $35.59 million for the quarter, compared to the consensus estimate 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 prior year, the company posted ($1.79) EPS. As a group, equities research analysts expect that FuelCell Energy, Inc. will post -1.73 EPS for the current year.

Insider Activity

In other news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the sale, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

Hedge funds have recently modified their holdings of the company. Carlson Financial Inc. bought a new position in shares of FuelCell Energy during the 2nd quarter valued at approximately $344,000. California State Teachers Retirement System purchased a new position in shares of FuelCell Energy in the 2nd quarter worth $970,000. Headlands Technologies LLC bought a new stake in shares of FuelCell Energy in the 2nd quarter worth about $734,000. Two Sigma Securities LLC purchased a new stake in shares of FuelCell Energy during the 2nd quarter valued at about $382,000. Finally, Hollencrest Capital Management purchased a new position in FuelCell Energy in the second quarter worth about $90,000. 42.78% of the stock is owned by hedge funds and other institutional investors.

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.