FuelCell Energy (NASDAQ:FCEL) Shares Gap Up – Here’s What Happened

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) gapped up prior to trading on Friday . The stock had previously closed at $23.62, but opened at $25.44. FuelCell Energy shares last traded at $22.9030, with a volume of 3,331,574 shares trading hands.

Wall Street Analyst Weigh In

FCEL has been the topic of several recent research reports. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wall Street Zen upgraded shares of FuelCell Energy from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group raised shares of FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $22.00 to $27.00 in a research report on Tuesday, July 14th. Wells Fargo & Company increased their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, June 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.83.

FuelCell Energy Trading Down 8.5%

The stock’s fifty day simple moving average is $22.24 and its 200-day simple moving average is $13.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The firm has a market cap of $1.73 billion, a PE ratio of -3.29 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million during the quarter, compared to analyst estimates of $40.47 million. During the same period in the prior year, the company posted ($1.79) earnings per share. On average, sell-side analysts forecast that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Buying and Selling at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the transaction, the executive vice president owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This represents a 48.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 5.46% of the company’s stock.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC purchased a new stake in FuelCell Energy during the 4th quarter valued at about $29,000. Caitong International Asset Management Co. Ltd lifted its stake in FuelCell Energy by 1,316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in FuelCell Energy in the 4th quarter worth approximately $78,000. Franklin Resources Inc. acquired a new position in shares of FuelCell Energy during the 4th quarter worth approximately $84,000. Finally, Optiver Holding B.V. acquired a new position in shares of FuelCell Energy during the 1st quarter worth approximately $88,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.

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.