FuelCell Energy (NASDAQ:FCEL) Shares Gap Up - What's Next?

Key Points

• FuelCell Energy shares gapped higher, opening at $25.44 versus a prior close of $23.62, but later traded around $22.90 on volume of 3.3 million shares.
• Analyst sentiment remains mixed: UBS upgraded the stock to Buy with a $27 price target, while other firms maintained Hold, Underweight, or Sell ratings. The consensus rating is Hold, with an average target price of $22.83.
• The company reported a significant quarterly loss of $0.53 per share, missing estimates by $1.05, while revenue of $35.59 million also fell short of expectations. FuelCell Energy posted deeply negative margins and analysts expect a full-year loss of $1.73 per share.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $23.62, but opened at $25.44. FuelCell Energy shares last traded at $22.9030, with a volume of 3,331,574 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group upgraded shares of FuelCell Energy from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $22.00 to $27.00 in a report on Tuesday, July 14th. TD Cowen reaffirmed 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. Wells Fargo & Company increased their price target on FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a research note 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, KeyCorp reaffirmed a "sector weight" rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, FuelCell Energy has an average rating of "Hold" and an average target price of $22.83.

FuelCell Energy Price Performance

The firm has a market cap of $1.84 billion, a P/E ratio of -3.52 and a beta of 2.31. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18. The business's 50 day moving average is $22.30 and its two-hundred day moving average is $13.89.

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 analysts' consensus estimates of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The firm had revenue of $35.59 million for the quarter, compared to the consensus estimate of $40.47 million. During the same period last year, the company posted ($1.79) EPS. As a group, analysts anticipate that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Activity at FuelCell Energy

In related news, EVP Shankar Achanta sold 2,500 shares of the firm's 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 sale, the executive vice president owned 2,618 shares of the company's stock, valued at $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 5.46% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its position in FuelCell Energy by 21.1% in the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company's stock valued at $147,000 after buying an additional 5,585 shares in the last quarter. Marshall Wace LLP bought a new stake in shares of FuelCell Energy during the second quarter valued at approximately $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FuelCell Energy by 6.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company's stock worth $1,877,000 after purchasing an additional 19,857 shares during the period. Bank of America Corp DE raised its position in shares of FuelCell Energy by 31.9% during the second quarter. Bank of America Corp DE now owns 18,351 shares of the energy company's stock worth $103,000 after purchasing an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP bought a new position in shares of FuelCell Energy in the 2nd quarter worth $216,000. 42.78% of the stock is owned by institutional investors.

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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