FuelCell Energy (NASDAQ:FCEL) Shares Down 14.2% – What’s Next?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) dropped 14.2% during mid-day trading on Friday . The company traded as low as $18.50 and last traded at $18.37. Approximately 1,924,056 shares were traded during trading, a decline of 59% from the average daily volume of 4,717,069 shares. The stock had previously closed at $21.40.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FCEL shares. Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the stock a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings raised shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Finally, Wells Fargo & Company lowered their target price on FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a report on Tuesday, March 10th. Seven equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $8.24.

FuelCell Energy Stock Performance

The business has a 50-day moving average price of $13.71 and a 200-day moving average price of $9.85. The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $952.39 million, a price-to-earnings ratio of -2.60 and a beta of 2.42.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.16. FuelCell Energy had a negative return on equity of 17.76% and a negative net margin of 107.51%.The firm had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $42.22 million. As a group, sell-side analysts forecast that FuelCell Energy, Inc. will post -2.18 earnings per share for the current year.

Institutional Investors Weigh In On FuelCell Energy

A number of large investors have recently modified their holdings of the business. Optiver Holding B.V. purchased a new position in shares of FuelCell Energy in the 1st quarter valued at approximately $88,000. Bank of America Corp DE raised its stake 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 acquiring an additional 177,084 shares during the last quarter. Amundi raised its stake in FuelCell Energy by 118.4% in the 1st quarter. Amundi now owns 50,947 shares of the energy company’s stock worth $333,000 after acquiring an additional 27,621 shares during the last quarter. Entropy Technologies LP lifted its position in FuelCell Energy by 28.6% during the 1st quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock worth $245,000 after acquiring an additional 8,336 shares during the period. Finally, First Trust Advisors LP acquired a new stake in FuelCell Energy during the 1st quarter worth about $758,000. Hedge funds and other institutional investors own 42.78% of the company’s stock.

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.