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

FuelCell Energy, Inc. (NASDAQ:FCEL) shares gapped down prior to trading on Thursday . The stock had previously closed at $19.92, but opened at $18.90. FuelCell Energy shares last traded at $19.07, with a volume of 2,620,588 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Weiss Ratings downgraded FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, May 6th. Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the company a “hold” rating in a report on Tuesday, March 10th. Finally, Zacks Research downgraded FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Seven analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.24.

FuelCell Energy Stock Up 2.6%

The company has a current ratio of 7.96, a quick ratio of 6.51 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $8.85 and its 200-day simple moving average is $8.21. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -2.95 and a beta of 2.22.

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

Institutional Trading of FuelCell Energy

A number of large investors have recently added to or reduced their stakes in FCEL. First Trust Advisors LP bought a new position in FuelCell Energy during the first quarter worth about $758,000. Dimensional Fund Advisors LP increased its position in FuelCell Energy by 459.1% during the first quarter. Dimensional Fund Advisors LP now owns 312,536 shares of the energy company’s stock worth $2,040,000 after buying an additional 256,640 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in FuelCell Energy by 155.6% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 19,473 shares of the energy company’s stock valued at $142,000 after buying an additional 11,855 shares during the period. Virtu Financial LLC lifted its position in shares of FuelCell Energy by 75.7% in the fourth quarter. Virtu Financial LLC now owns 85,655 shares of the energy company’s stock valued at $626,000 after buying an additional 36,910 shares during the last quarter. Finally, Invesco Ltd. lifted its position 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 buying an additional 647,151 shares during the last quarter. Institutional investors and hedge funds 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.