FuelCell Energy (NASDAQ:FCEL) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) saw unusually-strong trading volume on Wednesday . Approximately 3,104,560 shares were traded during mid-day trading, a decline of 10% from the previous session’s volume of 3,460,656 shares.The stock last traded at $16.9380 and had previously closed at $17.09.

Analysts Set New Price Targets

A number of research analysts have recently commented on FCEL shares. Wells Fargo & Company cut their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating on the stock in a report on Tuesday, March 10th. Wall Street Zen cut shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Zacks Research cut shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings cut shares of FuelCell Energy from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the stock a “hold” rating in a report on Tuesday, March 10th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Trading Up 2.0%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.51 and a current ratio of 7.96. The company’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $8.12. The company has a market capitalization of $923.97 million, a P/E ratio of -2.52 and a beta of 2.22.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC purchased a new position in shares of FuelCell Energy in the 4th quarter valued at approximately $29,000. Bank of America Corp DE raised its position 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 buying an additional 4,435 shares during the last quarter. Rhumbline Advisers raised its position in FuelCell Energy by 21.1% during the 1st 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 last quarter. Caitong International Asset Management Co. Ltd raised its position in FuelCell Energy by 1,316.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after buying an additional 7,080 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in FuelCell Energy during the 3rd quarter worth approximately $80,000. 42.78% of the stock is currently owned by institutional investors.

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.