FuelCell Energy (NASDAQ:FCEL) Stock Price Down 12% – Should You Sell?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price fell 12% on Tuesday . The stock traded as low as $26.70 and last traded at $26.1760. Approximately 3,190,073 shares were traded during mid-day trading, a decline of 49% from the average session volume of 6,253,293 shares. The stock had previously closed at $29.73.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, May 20th. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and upped their target price for the company from $16.00 to $24.00 in a report on Friday, June 26th. Wall Street Zen cut FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Canaccord Genuity Group upped their price objective on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, FuelCell Energy currently has a consensus rating of “Hold” and an average price target of $22.00.

FuelCell Energy Trading Down 10.1%

The company has a market cap of $1.81 billion, a P/E ratio of -4.09 and a beta of 2.31. The business has a fifty day moving average price of $20.47 and a 200-day moving average price of $12.25. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.52) by ($0.01). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The business had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same quarter last year, the company posted ($1.79) earnings per share. On average, analysts forecast that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc bought a new position in FuelCell Energy in the fourth quarter valued at about $21,149,000. Invesco Ltd. boosted its position in shares of FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock valued at $11,005,000 after purchasing an additional 647,151 shares in the last quarter. CenterBook Partners LP acquired a new stake in FuelCell Energy in the fourth quarter worth $9,348,000. Renaissance Technologies LLC increased its holdings in shares of FuelCell Energy by 14.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock valued at $8,915,000 after acquiring an additional 150,600 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in FuelCell Energy by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock valued at $8,374,000 after purchasing an additional 23,981 shares during the last quarter. 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.