FuelCell Energy (NASDAQ:FCEL) Trading Down 9.1% – Time to Sell?

FuelCell Energy, Inc. (NASDAQ:FCEL) shares fell 9.1% during trading on Tuesday . The stock traded as low as $21.80 and last traded at $22.1610. 4,273,674 shares traded hands during trading, a decline of 21% from the average session volume of 5,425,286 shares. The stock had previously closed at $24.39.

Analysts Set New Price Targets

FCEL has been the subject of a number of analyst reports. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Jefferies Financial Group upped their price objective on FuelCell Energy from $7.20 to $16.00 and gave the stock a “hold” rating in a research note on Wednesday, June 10th. Canaccord Genuity Group increased their price objective on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. B. Riley Financial raised their target price on shares of FuelCell Energy from $8.00 to $13.00 and gave the company a “neutral” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $15.04.

FuelCell Energy Stock Performance

The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -3.36 and a beta of 2.42. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $16.75 and its 200 day moving average is $10.93.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data 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 ($0.01). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The company had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. During the same quarter last year, the business earned ($1.79) earnings per share. Analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCEL. Kestra Advisory Services LLC acquired a new stake in shares of FuelCell Energy during the fourth quarter worth $29,000. Bank of America Corp DE grew its stake in shares of FuelCell Energy by 31.9% in the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after acquiring an additional 4,435 shares in the last quarter. 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 acquiring an additional 5,585 shares during the period. Caitong International Asset Management Co. Ltd increased its position 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 worth $59,000 after acquiring an additional 7,080 shares during the period. Finally, Entropy Technologies LP raised its stake in FuelCell Energy by 28.6% in the 1st quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock worth $245,000 after purchasing an additional 8,336 shares in the last quarter. 42.78% of the stock is owned by institutional investors and hedge funds.

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.