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FuelCell Energy (NASDAQ:FCEL) Trading Down 5.4% Following Insider Selling

Tuesday, April 13, 2021 | MarketBeat

FuelCell Energy, Inc. (NASDAQ:FCEL) fell 5.4% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $10.66 and last traded at $10.78. 855,403 shares traded hands during trading, a decline of 98% from the average session volume of 39,646,672 shares. The stock had previously closed at $11.39.Specifically, CEO Jason Few acquired 11,000 shares of FuelCell Energy stock in a transaction that occurred on Monday, January 25th. The stock was purchased at an average cost of $17.99 per share, with a total value of $197,890.00. Following the purchase, the chief executive officer now owns 22,134 shares in the company, valued at $398,190.66. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Christopher Groobey sold 16,000 shares of the firm's stock in a transaction on Friday, April 9th. The shares were sold at an average price of $12.56, for a total value of $200,960.00. Following the completion of the transaction, the director now owns 84,979 shares in the company, valued at approximately $1,067,336.24. The disclosure for this sale can be found here. Insiders sold a total of 26,000 shares of company stock worth $346,020 over the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on FCEL shares. Zacks Investment Research lowered shares of FuelCell Energy from a "hold" rating to a "sell" rating in a research report on Friday, March 19th. JPMorgan Chase & Co. dropped their price target on FuelCell Energy from $10.00 to $9.00 and set an "underweight" rating for the company in a research report on Friday, March 5th. Northcoast Research initiated coverage on FuelCell Energy in a research report on Tuesday, March 30th. They set a "neutral" rating on the stock. Jefferies Financial Group started coverage on FuelCell Energy in a research note on Thursday, January 7th. They set a "hold" rating on the stock. Finally, Canaccord Genuity raised their target price on FuelCell Energy from $8.50 to $15.00 and gave the stock a "hold" rating in a research note on Friday, January 22nd. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company currently has an average rating of "Hold" and a consensus price target of $11.38.

The firm has a 50-day moving average of $15.05 and a two-hundred day moving average of $11.42. The company has a quick ratio of 1.74, a current ratio of 2.69 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $3.50 billion, a PE ratio of -19.33 and a beta of 5.33.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Monday, March 15th. The energy company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.11). FuelCell Energy had a negative return on equity of 74.92% and a negative net margin of 162.42%. During the same period in the previous year, the firm earned ($0.20) EPS. On average, equities research analysts expect that FuelCell Energy, Inc. will post -0.25 EPS for the current year.

A number of large investors have recently modified their holdings of FCEL. Carroll Financial Associates Inc. acquired a new position in shares of FuelCell Energy in the first quarter valued at approximately $28,000. SOA Wealth Advisors LLC. purchased a new position in shares of FuelCell Energy in the 4th quarter valued at about $26,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of FuelCell Energy during the 4th quarter worth about $234,000. Norges Bank acquired a new position in FuelCell Energy in the fourth quarter valued at approximately $1,677,000. Finally, UBS Asset Management Americas Inc. purchased a new position in FuelCell Energy in the fourth quarter valued at approximately $3,558,000. Institutional investors own 33.69% of the company's stock.

About FuelCell Energy (NASDAQ:FCEL)

FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. The company offers SureSource product line based on carbonate fuel cell technology in various configurations, including on-site power, utility grid support, distributed hydrogen, and carbon utilization, as well as micro-grid and multi-megawatt applications; and SureSource Recovery power plants for natural gas pipeline applications.

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