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

FuelCell Energy, Inc. (NASDAQ:FCEL) EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was 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 of the company’s stock, valued at $75,162.78. The trade was a 48.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 shares were sold at an average price of $8.00, for a total transaction of $20,000.00.

FuelCell Energy Price Performance

FuelCell Energy stock opened at $22.54 on Thursday. FuelCell Energy, Inc. has a 52 week low of $3.78 and a 52 week high of $37.88. The company’s 50 day moving average price is $21.00 and its two-hundred day moving average price is $12.47. The stock has a market cap of $1.52 billion, a P/E ratio of -3.43 and a beta of 2.31. The company has a quick ratio of 7.20, a current ratio of 8.59 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.52) by ($0.01). The business had revenue of $35.59 million during the quarter, compared to the consensus estimate of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same period in the prior year, the company earned ($1.79) earnings per share. On average, equities analysts predict that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Trending Headlines about FuelCell Energy

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

• Positive Sentiment: The company said proceeds from the offering are intended to expand manufacturing capacity, fund working capital, and support general corporate purposes, which could help FuelCell Energy grow over time. FuelCell Energy Announces Upsize and Pricing of Offering of Common Stock
• Neutral Sentiment: Insiders disclosed a recent sale by EVP Shankar Achanta, but the transaction was relatively small and appears more informational than a major company-level catalyst. FuelCell Energy insider trade disclosure
• Negative Sentiment: FuelCell Energy launched an underwritten public offering, later upsized to 10.7 million shares at $21 per share for about $225 million in gross proceeds, which likely pressures the stock because existing shareholders face dilution. FuelCell Energy Announces Launch of Offering of Common Stock
• Negative Sentiment: Investors also appear to be locking in gains after the stock’s sharp recent run-up, adding to the selloff in FCEL shares. Why FuelCell Energy Stock Is Tumbling on Wednesday

Analysts Set New Price Targets

A number of research analysts have issued reports on FCEL shares. 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 lifted their target price on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 16th. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. TD Cowen restated a “hold” rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. Finally, KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a report on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC purchased a new position in shares of FuelCell Energy in the fourth quarter valued at $29,000. Caitong International Asset Management Co. Ltd boosted its stake in FuelCell Energy by 1,316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock worth $59,000 after purchasing an additional 7,080 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd bought a new position in FuelCell Energy in the 4th quarter worth about $78,000. Franklin Resources Inc. bought a new position in FuelCell Energy in the 4th quarter worth about $84,000. Finally, Optiver Holding B.V. bought a new stake in shares of FuelCell Energy during the first quarter valued at about $88,000. 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.