FuelCell Energy (NASDAQ:FCEL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.24 and traded as high as $7.58. FuelCell Energy shares last traded at $7.39, with a volume of 1,288,255 shares changing hands.

Wall Street Analyst Weigh In

FCEL has been the topic of several recent analyst reports. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a report on Friday, December 19th. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a report on Friday, January 23rd. Zacks Research cut shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of FuelCell Energy in a research report on Monday, December 29th. Finally, TD Cowen raised their price objective on shares of FuelCell Energy from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Friday, December 19th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FuelCell Energy has a consensus rating of “Reduce” and a consensus target price of $9.06.

FuelCell Energy Stock Down 0.4%

The stock’s fifty day moving average price is $8.23 and its 200-day moving average price is $7.24. The company has a quick ratio of 5.36, a current ratio of 6.63 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $352.78 million, a price-to-earnings ratio of -0.94 and a beta of 1.32.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Thursday, December 18th. The energy company reported ($0.83) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.14. FuelCell Energy had a negative net margin of 118.80% and a negative return on equity of 18.85%. The business had revenue of $55.02 million during the quarter, compared to the consensus estimate of $47.23 million. During the same quarter last year, the firm earned ($1.99) earnings per share. On average, sell-side analysts predict that FuelCell Energy, Inc. will post -6.11 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Betsy B. Bingham sold 8,608 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $8.52, for a total transaction of $73,340.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On FuelCell Energy

Several large investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in FuelCell Energy by 21.1% during the first quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock worth $147,000 after buying an additional 5,585 shares during the last quarter. Marshall Wace LLP bought a new position in shares of FuelCell Energy in the 2nd quarter valued at about $122,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of FuelCell Energy by 6.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 334,793 shares of the energy company’s stock worth $1,877,000 after purchasing an additional 19,857 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of FuelCell Energy by 31.9% in the 2nd quarter. Bank of America Corp DE now owns 18,351 shares of the energy company’s stock valued at $103,000 after purchasing an additional 4,435 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in FuelCell Energy in the 2nd quarter valued at about $216,000. Institutional investors and hedge funds 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.