FuelCell Energy (NASDAQ:FCEL) Shares Down 7.1% - Here's What Happened

Key Points

• FuelCell Energy shares fell 7.1% to $20.13, with trading volume below its daily average. The stock remains volatile, with a beta of 2.37.
• Analyst sentiment is mixed: four analysts rate the stock Buy, three Hold and two Sell, producing a consensus rating of Hold and an average price target of $22.83.
• The company reported a quarterly loss of $0.53 per share and revenue of $35.59 million, both worse than analyst expectations. FuelCell Energy posted a negative net margin of 132.41%, while analysts expect a full-year loss of $1.73 per share.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report)'s share price was down 7.1% on Thursday . The stock traded as low as $20.21 and last traded at $20.13. 6,021,333 shares changed hands during trading, a decline of 14% from the average daily volume of 7,013,481 shares. The stock had previously closed at $21.67.

Analysts Set New Price Targets

FCEL has been the subject of several recent analyst reports. Weiss Ratings raised FuelCell Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 20th. Jefferies Financial Group upgraded shares of FuelCell Energy from a "hold" rating to a "buy" rating and lifted their price objective for the company from $16.00 to $24.00 in a research note on Friday, June 26th. TD Cowen reaffirmed a "hold" rating and issued a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a report on Tuesday, June 9th. Wall Street Zen lowered shares of FuelCell Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Finally, KeyCorp reissued a "sector weight" rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.83.

FuelCell Energy Price Performance

The company has a 50 day moving average of $21.83 and a two-hundred day moving average of $14.69. The firm has a market cap of $1.61 billion, a P/E ratio of -3.05 and a beta of 2.37. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last issued its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.52 by ($1.05). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.The business had revenue of $35.59 million during the quarter, compared to the consensus estimate of $40.47 million. During the same quarter last year, the firm posted ($1.79) earnings per share. Sell-side analysts expect that FuelCell Energy, Inc. will post -1.73 EPS for the current 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 shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the completion of the sale, the executive vice president directly owned 2,618 shares of the company's stock, valued at $75,162.78. This represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in shares of FuelCell Energy in the fourth quarter valued at $21,149,000. CenterBook Partners LP bought a new stake in FuelCell Energy during the fourth quarter valued at about $9,348,000. Two Sigma Investments LP bought a new position in FuelCell Energy during the third quarter worth $5,348,000. Invesco Ltd. grew its position in FuelCell Energy by 75.4% during the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company's stock worth $11,005,000 after buying an additional 647,151 shares in the last quarter. Finally, Trexquant Investment LP increased its position in shares of FuelCell Energy by 162.3% during the fourth quarter. Trexquant Investment LP now owns 894,800 shares of the energy company's stock valued at $6,541,000 after purchasing an additional 553,660 shares during the period. Institutional investors and hedge funds 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.

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