FuelCell Energy (NASDAQ:FCEL) EVP Shankar Achanta Sells 2,500 Shares

Key Points

• EVP Shankar Achanta sold 2,500 shares on April 20 at $8.00 each for $20,000, trimming his stake by 41.05% to 3,590 shares (about $28,720) per the SEC filing.
• Shares jumped about 9.7% to $9.49 on heavy volume (18.8M vs. a ~2.08M average), with a market cap of roughly $502.8M and a 52-week range of $3.58–$11.99.
• FuelCell reported Q results of (‑$0.52) EPS that beat estimates but missed on revenue ($30.53M vs. $42.22M), carries negative margins, and carries a consensus analyst rating of "Reduce" with an average target of $8.24.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) EVP Shankar Achanta sold 2,500 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $8.00, for a total value of $20,000.00. Following the completion of the sale, the executive vice president owned 3,590 shares of the company's stock, valued at approximately $28,720. The trade was a 41.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

FuelCell Energy Trading Up 9.7%

NASDAQ:FCEL traded up $0.84 during trading hours on Tuesday, hitting $9.49. The company had a trading volume of 18,799,511 shares, compared to its average volume of 2,075,887. The company has a current ratio of 7.96, a quick ratio of 6.51 and a debt-to-equity ratio of 0.19. The company has a 50-day moving average of $7.25 and a 200 day moving average of $7.82. The company has a market cap of $502.78 million, a P/E ratio of -1.37 and a beta of 1.41. FuelCell Energy, Inc. has a 1 year low of $3.58 and a 1 year high of $11.99.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its earnings results on Monday, March 9th. The energy company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.68) by $0.16. The company had revenue of $30.53 million during the quarter, compared to analysts' expectations of $42.22 million. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%. Sell-side analysts expect that FuelCell Energy, Inc. will post -1.98 earnings per share for the current year.

Hedge Funds Weigh In On FuelCell Energy

Several hedge funds have recently bought and sold shares of the company. Kestra Advisory Services LLC acquired a new position in FuelCell Energy during the 4th quarter worth about $29,000. Bank of America Corp DE lifted its stake 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 acquiring an additional 4,435 shares in the last quarter. Rhumbline Advisers lifted its stake 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 acquiring an additional 5,585 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake 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 acquiring an additional 7,080 shares in the last quarter. Finally, Independent Advisor Alliance acquired a new position in FuelCell Energy during the 3rd quarter worth about $80,000. Institutional investors and hedge funds own 42.78% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FCEL. Weiss Ratings reiterated a "sell (d-)" rating on shares of FuelCell Energy in a report on Monday, December 29th. Wells Fargo & Company lowered their price target on FuelCell Energy from $7.00 to $6.00 and set an "underweight" rating for the company in a report on Tuesday, March 10th. Jefferies Financial Group set a $7.20 price target on FuelCell Energy and gave the stock a "hold" rating in a report on Tuesday, March 10th. Wall Street Zen cut FuelCell Energy from a "hold" rating to a "sell" rating in a report on Friday, January 23rd. Finally, Zacks Research cut FuelCell Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, January 16th. Seven research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FuelCell Energy currently has a consensus rating of "Reduce" and an average target price of $8.24.

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.

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