FuelCell Energy (NASDAQ:FCEL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) saw unusually-strong trading volume on Wednesday . Approximately 3,104,560 shares changed hands during trading, a decline of 10% from the previous session’s volume of 3,460,656 shares.The stock last traded at $16.9380 and had previously closed at $17.09.

Wall Street Analysts Forecast Growth

FCEL has been the topic of several research reports. Weiss Ratings cut shares of FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Wells Fargo & Company lowered their price objective on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price objective on shares of FuelCell Energy and gave the company a “hold” rating in a research report on Tuesday, March 10th. Finally, Zacks Research lowered shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Seven investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Trading Up 2.0%

The firm has a market cap of $923.97 million, a PE ratio of -2.52 and a beta of 2.22. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average price is $8.62 and its two-hundred day moving average price is $8.12.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share for the quarter, beating 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 business had revenue of $30.53 million for the quarter, compared to the consensus estimate of $42.22 million. As a group, sell-side analysts forecast that FuelCell Energy, Inc. will post -2.18 EPS for the current year.

Institutional Investors Weigh In On FuelCell Energy

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

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.