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

FuelCell Energy, Inc. (NASDAQ:FCEL) shares traded down 8.7% on Wednesday . The company traded as low as $19.64 and last traded at $19.8130. 1,744,984 shares traded 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCEL. Weiss Ratings reiterated a “sell (d-)” rating on shares of FuelCell Energy in a research note on Monday. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. UBS Group raised FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday, July 14th. B. Riley Financial raised FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $32.00 in a research note on Monday, June 29th. Finally, Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and increased their target price for the stock from $16.00 to $24.00 in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.83.

FuelCell Energy Stock Performance

The firm has a market cap of $1.65 billion, a PE ratio of -3.15 and a beta of 2.38. 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 firm’s 50 day simple moving average is $22.13 and its 200 day simple moving average is $15.03.

FuelCell Energy (NASDAQ:FCEL) last issued 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). The firm had revenue of $35.59 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned ($1.79) EPS. On average, research analysts forecast that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.

Insider Activity at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $28.71, for a total transaction of $71,775.00. Following the completion of the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

A number of large investors have recently added to or reduced their stakes in FCEL. Kestra Advisory Services LLC bought a new position in shares of FuelCell Energy during the 4th quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in FuelCell Energy by 1,316.0% in the third 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 during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in FuelCell Energy during the fourth quarter valued at $78,000. Franklin Resources Inc. purchased a new stake in FuelCell Energy during the fourth quarter valued at $84,000. Finally, Optiver Holding B.V. bought a new position in FuelCell Energy during the first quarter valued at $88,000. 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.