FuelCell Energy (NASDAQ:FCEL) Stock Price Down 8.7% – What’s Next?

FuelCell Energy, Inc. (NASDAQ:FCEL) shares were down 8.7% on Wednesday . The stock traded as low as $19.64 and last traded at $19.8130. 1,744,984 shares changed hands during trading, a decline of 75% from the average daily volume of 7,039,409 shares. The stock had previously closed at $21.70.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and boosted their price target for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. UBS Group raised FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $22.00 to $27.00 in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of FuelCell Energy in a report on Monday. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Finally, KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.83.

FuelCell Energy Trading Down 4.6%

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 has a market capitalization of $1.65 billion, a PE ratio of -3.15 and a beta of 2.38. The stock has a 50 day moving average price of $22.13 and a 200-day moving average price of $15.03.

FuelCell Energy (NASDAQ:FCEL) last announced 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). The business had revenue of $35.59 million for the quarter, compared to the consensus estimate of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same quarter last year, the firm posted ($1.79) earnings per share. Sell-side analysts expect that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Activity at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.46% of the stock is owned by company insiders.

Institutional Trading of FuelCell Energy

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of FuelCell Energy by 21.1% in the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after buying an additional 5,585 shares during the period. Marshall Wace LLP purchased a new stake in FuelCell Energy in the 2nd quarter worth approximately $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in FuelCell Energy by 6.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after acquiring an additional 19,857 shares in the last quarter. Bank of America Corp DE raised its stake in FuelCell Energy by 31.9% during the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock worth $103,000 after acquiring an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in FuelCell Energy during the second quarter valued at approximately $216,000. 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.