Shankar Achanta Sells 2,500 Shares of FuelCell Energy (NASDAQ:FCEL) Stock

Key Points

• FuelCell Energy EVP Shankar Achanta sold 2,500 shares on July 6 at an average price of $28.71, bringing in about $71,775. After the sale, he still held 2,618 shares, and the transaction cut his stake by nearly 49%.
• The stock was trading sharply lower and highly volatile, falling to $22.54 on heavy volume compared with its average. FCEL has still ranged from a 12-month low of $3.78 to a high of $37.88.
• FuelCell Energy continues to face mixed fundamentals and analyst views: it recently missed earnings and revenue estimates, while analysts currently have a consensus Hold rating with an average price target of $22.00.

FuelCell Energy, Inc. (NASDAQ:FCEL - Get Free Report) EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the transaction, the executive vice president owned 2,618 shares in the company, valued at $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shankar Achanta also recently made the following trade(s):

• On Monday, April 20th, Shankar Achanta sold 2,500 shares of FuelCell Energy stock. The stock was sold at an average price of $8.00, for a total value of $20,000.00.

FuelCell Energy Stock Performance

Shares of NASDAQ FCEL traded down $3.42 during trading on Wednesday, hitting $22.54. The company had a trading volume of 21,438,503 shares, compared to its average volume of 6,456,834. The stock has a 50 day simple moving average of $20.76 and a 200 day simple moving average of $12.38. The company has a debt-to-equity ratio of 0.18, a quick ratio of 7.20 and a current ratio of 8.59. FuelCell Energy, Inc. has a 12 month low of $3.78 and a 12 month high of $37.88. The firm has a market capitalization of $1.52 billion, a P/E ratio of -3.43 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL - Get Free Report) last announced its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.52) by ($0.01). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The company had revenue of $35.59 million for 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. As a group, analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Several hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in shares of FuelCell Energy in the 4th quarter worth about $21,149,000. Invesco Ltd. grew its position in FuelCell Energy by 75.4% in the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company's stock worth $11,005,000 after acquiring an additional 647,151 shares in the last quarter. CenterBook Partners LP purchased a new position in FuelCell Energy in the fourth quarter worth about $9,348,000. Renaissance Technologies LLC increased its stake in FuelCell Energy by 14.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company's stock worth $8,915,000 after acquiring an additional 150,600 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in FuelCell Energy by 2.3% during the third quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company's stock worth $8,374,000 after acquiring an additional 23,981 shares during the last quarter. Hedge funds and other institutional investors own 42.78% of the company's stock.

Key FuelCell Energy News

Here are the key news stories impacting FuelCell Energy this week:

• Positive Sentiment: The new capital is intended to expand manufacturing capacity, fund working capital, and support general corporate purposes, which could help FuelCell Energy execute on growth initiatives. FuelCell Energy Announces Upsize and Pricing of Offering of Common Stock
• Neutral Sentiment: Some recent commentary noted FCEL had rallied sharply over the past three months on optimism around its AI data-center pipeline, modular fuel-cell systems, and manufacturing expansion. FCEL Quadruples in 3 Months: Why It May Still Be Worth Buying
• Negative Sentiment: The stock is under pressure because the offering increases share count and came at a discount, heightening dilution fears among investors. FuelCell Energy shares fall after company prices upsized $225 million stock offering
• Negative Sentiment: Recent reports also point to broader profit-taking after a huge run-up in FCEL shares, which is amplifying the post-offering selloff. Why FuelCell Energy Stock Is Tumbling on Wednesday

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FCEL shares. Weiss Ratings upgraded FuelCell Energy from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, May 20th. B. Riley Financial upgraded FuelCell Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $13.00 to $32.00 in a research report on Monday, June 29th. Canaccord Genuity Group upped their price objective on FuelCell Energy from $12.00 to $30.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. TD Cowen reiterated a "hold" rating and set a $16.00 target price (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company lifted their target price on FuelCell Energy from $6.00 to $8.00 and gave the company an "underweight" rating in a research note on Tuesday, June 16th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy has an average rating of "Hold" and a consensus price target of $22.00.

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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