FuelCell Energy (NASDAQ:FCEL) Trading Down 5%

FuelCell Energy, Inc. (NASDAQ:FCEL) shares traded down 5% during mid-day trading on Wednesday . The stock traded as low as $6.10 and last traded at $6.12. 593,245 shares were traded during mid-day trading, a decline of 98% from the average session volume of 29,021,572 shares. The stock had previously closed at $6.44.

Several analysts have recently commented on FCEL shares. Canaccord Genuity reduced their price objective on shares of FuelCell Energy from $13.50 to $9.00 and set a “hold” rating for the company in a research report on Friday, June 11th. B. Riley decreased their price target on shares of FuelCell Energy from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Friday, June 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Monday, August 9th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.40.

The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -16.83 and a beta of 4.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 4.37 and a quick ratio of 3.32. The business’s fifty day moving average price is $6.49 and its 200-day moving average price is $9.44.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Monday, September 13th. The energy company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.01. The business had revenue of $26.82 million during the quarter, compared to the consensus estimate of $20.63 million. FuelCell Energy had a negative return on equity of 30.58% and a negative net margin of 153.45%. FuelCell Energy’s revenue was up 43.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.07) earnings per share. Equities research analysts predict that FuelCell Energy, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Signaturefd LLC purchased a new position in FuelCell Energy during the 1st quarter valued at about $26,000. Arizona State Retirement System grew its stake in FuelCell Energy by 2.2% during the second quarter. Arizona State Retirement System now owns 87,645 shares of the energy company’s stock valued at $780,000 after acquiring an additional 1,858 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of FuelCell Energy by 0.8% in the second quarter. New York State Common Retirement Fund now owns 271,742 shares of the energy company’s stock worth $2,419,000 after purchasing an additional 2,142 shares during the period. South State CORP. bought a new position in shares of FuelCell Energy in the first quarter worth $34,000. Finally, Amalgamated Bank raised its position in shares of FuelCell Energy by 7.3% in the first quarter. Amalgamated Bank now owns 38,308 shares of the energy company’s stock worth $552,000 after buying an additional 2,614 shares in the last quarter. Institutional investors and hedge funds own 40.58% of the company’s stock.

About FuelCell Energy (NASDAQ:FCEL)

FuelCell Energy, Inc develops environmentally responsible distributed baseload power solutions through proprietary molten-carbonate fuel cell technology. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.

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