FuelCell Energy (NASDAQ:FCEL) Stock Price Down 7.1% – Here’s What Happened

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price dropped 7.1% on Thursday . The stock traded as low as $20.21 and last traded at $20.13. Approximately 6,021,333 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 7,013,481 shares. The stock had previously closed at $21.67.

Analyst Ratings Changes

A number of research firms recently issued reports on FCEL. B. Riley Financial raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $32.00 in a report on Monday, June 29th. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Canaccord Genuity Group increased their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Jefferies Financial Group upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and lifted their price target for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. Finally, 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. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.83.

FuelCell Energy Trading Up 10.0%

The stock has a 50-day moving average price of $21.91 and a two-hundred day moving average price of $14.82. The stock has a market capitalization of $1.79 billion, a PE ratio of -3.40 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.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. During the same period in the prior year, the company posted ($1.79) earnings per share. As a group, equities analysts forecast that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Buying and Selling at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction 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 $75,162.78. This represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Kestra Advisory Services LLC bought a new position in FuelCell Energy in the 4th quarter worth $29,000. Caitong International Asset Management Co. Ltd raised its holdings in FuelCell Energy by 1,316.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after acquiring an additional 7,080 shares during the period. KMG Fiduciary Partners LLC bought a new stake in FuelCell Energy during the second quarter valued at about $324,000. Doliver Advisors LP purchased a new position in shares of FuelCell Energy in the second quarter valued at about $360,000. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of FuelCell Energy in the fourth quarter valued at about $78,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.