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

FuelCell Energy, Inc. (NASDAQ:FCEL) EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the completion of the transaction, the executive vice president owned 2,618 shares of the company’s stock, valued at $75,162.78. This trade represents a 48.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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 transaction of $20,000.00.

FuelCell Energy Stock Performance

Shares of FCEL stock opened at $23.00 on Friday. FuelCell Energy, Inc. has a 12 month low of $3.78 and a 12 month high of $37.88. The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The firm has a market capitalization of $1.56 billion, a P/E ratio of -3.50 and a beta of 2.31. The company’s fifty day moving average price is $21.26 and its two-hundred day moving average price is $12.57.

FuelCell Energy (NASDAQ:FCEL) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.52 by ($1.05). FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. The business had revenue of $35.59 million for the quarter, compared to analyst estimates of $40.47 million. During the same quarter in the prior year, the business earned ($1.79) earnings per share. On average, research analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FuelCell Energy

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc bought a new position in FuelCell Energy during the fourth quarter worth $21,149,000. Invesco Ltd. raised its holdings in shares of FuelCell Energy by 75.4% during the fourth quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after purchasing an additional 647,151 shares during the period. CenterBook Partners LP bought a new position in shares of FuelCell Energy in the 4th quarter worth about $9,348,000. Renaissance Technologies LLC lifted its position in shares of FuelCell Energy by 14.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock worth $8,915,000 after buying an additional 150,600 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of FuelCell Energy by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock valued at $8,374,000 after buying an additional 23,981 shares during the period. 42.78% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting FuelCell Energy

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

• Positive Sentiment: FuelCell Energy announced a strategic collaboration with Siemens to develop scalable fuel cell power solutions, including electrical balance-of-plant systems and integrated distributed energy projects, which could improve project execution and support future growth. Siemens and FuelCell Energy Collaborate to Explore Scalable Fuel Cell Power Solutions
• Positive Sentiment: The Siemens partnership is aimed at speeding deployment of 100+ MW commercial projects and could open more opportunities in data centers, industrial facilities, and other mission-critical power markets. Bloom Energy Rebounds; ‘Categorically Rejects’ Short-Seller Report
• Neutral Sentiment: An insider filing showed EVP Shankar Achanta sold 2,500 shares, but the transaction was relatively small and does not appear to be the main driver of the stock’s move. FuelCell Energy EVP Sells Stock
• Negative Sentiment: FuelCell Energy priced an upsized public offering of 10.7 million shares at $21 each for about $225 million in gross proceeds, which raised dilution concerns for existing shareholders and weighed on the stock. FuelCell Energy Announces Upsize and Pricing of Offering of Common Stock
• Negative Sentiment: Investors also appear to be taking profits after FCEL’s recent sharp run-up, which added to the selloff following the financing announcement. Why FuelCell Energy Stock Is Tumbling on Wednesday

Analysts Set New Price Targets

Several equities research analysts have issued reports on FCEL shares. Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $16.00 to $24.00 in a report on Friday, June 26th. Wells Fargo & Company increased 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. KeyCorp restated a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Canaccord Genuity Group upped their price target on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, June 9th. Finally, B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $32.00 in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given 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.

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.