FuelCell Energy (NASDAQ:FCEL) Trading Up 4.9%

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price was up 4.9% during mid-day trading on Friday . The stock traded as high as $1.40 and last traded at $1.40. Approximately 5,592,647 shares changed hands during trading, a decline of 54% from the average daily volume of 12,286,193 shares. The stock had previously closed at $1.33.

Analysts Set New Price Targets

Several research analysts have issued reports on FCEL shares. B. Riley lowered their price objective on shares of FuelCell Energy from $4.00 to $2.50 in a research report on Tuesday, June 27th. Craig Hallum reduced their target price on shares of FuelCell Energy from $3.00 to $2.50 in a research note on Friday, June 9th.

FuelCell Energy Price Performance

The company has a market cap of $561.33 million, a price-to-earnings ratio of -4.18 and a beta of 3.60. The company has a current ratio of 7.22, a quick ratio of 5.83 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $2.05 and its 200 day moving average price is $2.44.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Thursday, June 8th. The energy company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). FuelCell Energy had a negative return on equity of 18.42% and a negative net margin of 79.13%. The firm had revenue of $38.40 million during the quarter, compared to analyst estimates of $25.49 million. During the same quarter last year, the business posted ($0.08) EPS. The firm’s revenue was up 134.1% on a year-over-year basis. Equities research analysts forecast that FuelCell Energy, Inc. will post -0.3 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Several hedge funds and other institutional investors have recently made changes to their positions in FCEL. JPMorgan Chase & Co. lifted its stake in shares of FuelCell Energy by 3.8% in the first quarter. JPMorgan Chase & Co. now owns 531,319 shares of the energy company’s stock valued at $3,061,000 after purchasing an additional 19,633 shares during the period. Raymond James & Associates lifted its stake in shares of FuelCell Energy by 203.1% in the first quarter. Raymond James & Associates now owns 128,858 shares of the energy company’s stock valued at $742,000 after purchasing an additional 86,344 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of FuelCell Energy by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 1,358,843 shares of the energy company’s stock valued at $7,827,000 after purchasing an additional 44,401 shares during the period. Private Advisor Group LLC lifted its stake in shares of FuelCell Energy by 134.3% in the first quarter. Private Advisor Group LLC now owns 34,600 shares of the energy company’s stock valued at $200,000 after purchasing an additional 19,832 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of FuelCell Energy by 50.4% in the first quarter. MetLife Investment Management LLC now owns 191,038 shares of the energy company’s stock valued at $1,100,000 after purchasing an additional 63,986 shares during the period. Institutional investors and hedge funds own 46.99% of the company’s stock.

FuelCell Energy Company Profile

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.