FuelCell Energy (NASDAQ:FCEL) Stock Price Down 8.1% - Here's What Happened

Key Points

• FuelCell Energy shares fell 8.1% on Friday, trading as low as $21.24 after closing at $23.30 the previous day, with volume below its average daily level.
• Analyst sentiment is mixed, but the stock currently carries an average “Hold” rating and a consensus price target of $22.83; several firms recently raised targets and upgraded the shares.
• Recent fundamentals were weak: the company missed quarterly earnings and revenue expectations, and an executive also sold shares earlier in July.

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) were down 8.1% on Friday . The company traded as low as $21.24 and last traded at $21.4090. 2,382,032 shares were traded during trading, a decline of 65% from the average daily volume of 6,862,187 shares. The stock had previously closed at $23.30.

Analyst Ratings Changes

FCEL has been the topic of several analyst reports. Canaccord Genuity Group boosted their target price on FuelCell Energy from $12.00 to $30.00 and gave the stock a "buy" rating in a report on Tuesday, June 9th. UBS Group upgraded FuelCell Energy from a "neutral" rating to a "buy" rating and raised their price target for the company from $22.00 to $27.00 in a report on Tuesday, July 14th. Weiss Ratings raised FuelCell Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, May 20th. Wells Fargo & Company increased their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a research report on Tuesday, June 16th. Finally, B. Riley Financial upgraded shares of FuelCell Energy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $13.00 to $32.00 in a research note on Monday, June 29th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $22.83.

FuelCell Energy Trading Down 5.6%

The firm has a market capitalization of $1.76 billion, a PE ratio of -3.34 and a beta of 2.31. The firm has a 50 day simple moving average of $22.28 and a 200 day simple moving average of $13.44. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last posted its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). The business had revenue of $35.59 million during the quarter, compared to analysts' expectations 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 firm earned ($1.79) EPS. Equities analysts expect that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FuelCell Energy news, EVP Shankar Achanta sold 2,500 shares of the business's stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the transaction, the executive vice president owned 2,618 shares of the company's stock, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.46% of the company's stock.

Institutional Trading of FuelCell Energy

A number of institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of FuelCell Energy by 31,021.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company's stock valued at $1,078,000 after purchasing an additional 147,042 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in FuelCell Energy by 1,173,840.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company's stock worth $1,716,000 after purchasing an additional 234,768 shares during the last quarter. CenterBook Partners LP purchased a new stake in FuelCell Energy in the fourth quarter worth approximately $9,348,000. Legal & General Group Plc bought a new stake in FuelCell Energy in the 4th quarter worth approximately $21,149,000. Finally, Virtu Financial LLC raised its stake in FuelCell Energy by 75.7% during the 4th quarter. Virtu Financial LLC now owns 85,655 shares of the energy company's stock valued at $626,000 after buying an additional 36,910 shares during the last quarter. Hedge funds and other institutional investors 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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