FuelCell Energy (NASDAQ:FCEL) Stock Price Down 8.1% – What’s Next?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price dropped 8.1% during mid-day trading on Friday . The company traded as low as $21.24 and last traded at $21.4090. 2,382,032 shares traded hands during trading, a decline of 65% from the average daily volume of 6,862,187 shares. The stock had previously closed at $23.30.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Weiss Ratings raised FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Wells Fargo & Company lifted their price objective on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, June 16th. Wall Street Zen downgraded FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Finally, TD Cowen reissued a “hold” rating and set a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Four investment 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. According to MarketBeat, FuelCell Energy has an average rating of “Hold” and a consensus price target of $22.83.

FuelCell Energy Stock Down 8.8%

The firm’s 50-day moving average price is $22.28 and its 200 day moving average price is $13.49. 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 company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -3.24 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly 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 firm had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.During the same quarter in the prior year, the business posted ($1.79) EPS. On average, sell-side analysts forecast that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.

Insider Buying and Selling at FuelCell Energy

In other FuelCell Energy 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 sale, the executive vice president 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 SEC, which can be accessed through the SEC website. Corporate insiders own 5.46% of the company’s stock.

Institutional Trading of FuelCell Energy

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

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.