FuelCell Energy (NASDAQ:FCEL) Stock Price Down 6.6% - Here's What Happened

Key Points

• FuelCell Energy shares fell 6.6% to about $18.97 in mid-day trading, with trading volume down 84% from the stock’s average daily level.
• Analyst views remain mixed: the stock carries an average “Hold” rating and a $22.83 price target, though UBS, Canaccord Genuity and Jefferies recently upgraded the shares or raised their targets.
• The company reported weaker-than-expected quarterly results, including a $0.53 per-share loss versus an expected $0.52 loss and revenue of $35.59 million versus a $40.47 million consensus estimate.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) shares dropped 6.6% during mid-day trading on Friday . The company traded as low as $19.99 and last traded at $18.9730. Approximately 1,120,928 shares were traded during trading, a decline of 84% from the average daily volume of 6,951,006 shares. The stock had previously closed at $20.32.

Wall Street Analyst Weigh In

Several research firms recently commented on FCEL. Wells Fargo & Company raised their price target on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a report on Tuesday, June 16th. UBS Group upgraded shares of FuelCell Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $22.00 to $27.00 in a research note on Tuesday, July 14th. Canaccord Genuity Group increased their price objective on shares of FuelCell Energy from $12.00 to $30.00 and gave the stock a "buy" rating in a research report on Tuesday, June 9th. Jefferies Financial Group raised shares of FuelCell Energy from a "hold" rating to a "buy" rating and raised their target price for the company from $16.00 to $24.00 in a research note on Friday, June 26th. Finally, Weiss Ratings upgraded shares of FuelCell Energy from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $22.83.

FuelCell Energy Stock Down 2.5%

The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The stock's fifty day simple moving average is $21.99 and its 200-day simple moving average is $14.38. The stock has a market cap of $1.58 billion, a P/E ratio of -3.01 and a beta of 2.37.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last released 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 firm had revenue of $35.59 million for the quarter, compared to the consensus estimate of $40.47 million. During the same quarter in the prior year, the company posted ($1.79) EPS. On average, research analysts anticipate that FuelCell Energy, Inc. will post -1.73 earnings per share for the current year.

Insider Buying and Selling 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 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 in the company, valued at approximately $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 5.46% of the company's stock.

Hedge Funds Weigh In On FuelCell Energy

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp purchased a new stake in shares of FuelCell Energy during the second quarter worth $6,094,000. Doliver Advisors LP acquired a new stake in FuelCell Energy during the second quarter valued at $360,000. KMG Fiduciary Partners LLC purchased a new position in FuelCell Energy in the second quarter valued at about $324,000. Optiver Holding B.V. purchased a new position in FuelCell Energy in the first quarter valued at about $88,000. Finally, Bank of America Corp DE increased its position in FuelCell Energy by 1,298.3% in the 1st quarter. Bank of America Corp DE now owns 190,724 shares of the energy company's stock worth $1,245,000 after purchasing an additional 177,084 shares during the last quarter. Institutional investors and hedge funds own 42.78% of the company's stock.

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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