FuelCell Energy (NASDAQ:FCEL) Trading Down 4.3%

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price dropped 4.3% during trading on Thursday . The stock traded as low as $6.91 and last traded at $6.94. Approximately 592,053 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 28,542,707 shares. The stock had previously closed at $7.25.

FCEL has been the subject of several analyst reports. B. Riley dropped their target price on shares of FuelCell Energy from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, September 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of FuelCell Energy from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Friday, September 17th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.40.

The stock’s 50-day moving average is $6.37 and its 200-day moving average is $8.21. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of -20.14 and a beta of 4.98. The company has a current ratio of 4.37, a quick ratio of 3.32 and a debt-to-equity ratio of 0.24.

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

A number of institutional investors and hedge funds have recently bought and sold shares of FCEL. BlackRock Inc. grew its holdings in FuelCell Energy by 34.0% during the 2nd quarter. BlackRock Inc. now owns 31,928,342 shares of the energy company’s stock worth $284,161,000 after acquiring an additional 8,092,845 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of FuelCell Energy by 30.8% in the 2nd quarter. Vanguard Group Inc. now owns 28,628,330 shares of the energy company’s stock valued at $254,793,000 after purchasing an additional 6,739,362 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of FuelCell Energy by 303.4% in the 2nd quarter. Renaissance Technologies LLC now owns 5,863,300 shares of the energy company’s stock valued at $52,183,000 after purchasing an additional 4,409,800 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of FuelCell Energy in the 1st quarter valued at $19,422,000. Finally, Morgan Stanley boosted its stake in shares of FuelCell Energy by 49.7% in the 1st quarter. Morgan Stanley now owns 3,933,821 shares of the energy company’s stock valued at $56,687,000 after purchasing an additional 1,306,179 shares during the last quarter. 40.58% of the stock is currently owned by hedge funds and other institutional investors.

FuelCell Energy Company Profile (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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