FuelCell Energy (NASDAQ:FCEL) Trading Down 7.2% – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL) traded down 7.2% on Tuesday . The company traded as low as $6.16 and last traded at $6.20. 288,011 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,045,704 shares. The stock had previously closed at $6.68.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FCEL shares. Wells Fargo & Company dropped their target price on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating for the company in a report on Wednesday. Canaccord Genuity Group dropped their price objective on FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a research note on Friday, September 6th. StockNews.com began coverage on shares of FuelCell Energy in a research note on Tuesday. They issued a “sell” rating on the stock. Finally, UBS Group dropped their target price on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.17.

FuelCell Energy Stock Performance

The firm has a fifty day moving average of $10.97 and a 200-day moving average of $16.88. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18. The firm has a market cap of $110.32 million, a P/E ratio of -0.76 and a beta of 3.91.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Thursday, September 5th. The energy company reported ($2.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($2.10). The company had revenue of $23.70 million for the quarter, compared to the consensus estimate of $23.22 million. FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. During the same period in the prior year, the company posted ($1.80) EPS. Research analysts predict that FuelCell Energy, Inc. will post -7.21 earnings per share for the current fiscal year.

Institutional Trading of FuelCell Energy

Several institutional investors and hedge funds have recently made changes to their positions in FCEL. Algert Global LLC acquired a new stake in shares of FuelCell Energy during the second quarter worth $29,000. AQR Capital Management LLC grew its position in shares of FuelCell Energy by 106.0% during the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after buying an additional 26,223 shares during the period. SageView Advisory Group LLC bought a new stake in shares of FuelCell Energy in the 1st quarter valued at about $41,000. Bogart Wealth LLC raised its position in shares of FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after acquiring an additional 111,750 shares during the period. Finally, Banque Cantonale Vaudoise boosted its stake in FuelCell Energy by 42.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,096 shares of the energy company’s stock worth $46,000 after acquiring an additional 36,120 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.

About FuelCell Energy

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.