Shares of FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) traded down 7.6% during trading on Monday . The company traded as low as $19.07 and last traded at $19.4240. Approximately 4,550,522 shares traded hands during trading, a decline of 31% from the average daily volume of 6,564,244 shares. The stock had previously closed at $21.03.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on FCEL. Jefferies Financial Group raised shares of FuelCell Energy from a “hold” rating to a “buy” rating and raised their price objective for the stock from $16.00 to $24.00 in a research note on Friday, June 26th. Weiss Ratings upgraded FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, May 20th. Canaccord Genuity Group lifted their target price on FuelCell Energy from $12.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. B. Riley Financial upgraded shares of FuelCell Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $32.00 in a report on Monday, June 29th. Finally, Wells Fargo & Company boosted their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday, June 16th. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.00.
View Our Latest Report on FuelCell Energy
FuelCell Energy Trading Down 7.5%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its quarterly earnings results on Monday, June 8th. The energy company reported ($0.53) EPS 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 firm had revenue of $35.59 million for the quarter, compared to analysts’ expectations of $40.47 million. During the same quarter in the prior year, the business posted ($1.79) EPS. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.
Insider Activity at FuelCell Energy
In other news, EVP Shankar Achanta sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $28.71, for a total value of $71,775.00. Following the completion of the sale, the executive vice president owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. This represents a 48.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.46% of the company’s stock.
Hedge Funds Weigh In On FuelCell Energy
A number of large investors have recently bought and sold shares of FCEL. Doliver Advisors LP purchased a new stake in FuelCell Energy during the second quarter worth $360,000. KMG Fiduciary Partners LLC bought a new position in shares of FuelCell Energy in the 2nd quarter worth $324,000. Optiver Holding B.V. bought a new position in shares of FuelCell Energy in the 1st quarter worth $88,000. Bank of America Corp DE lifted its stake in shares of FuelCell Energy by 1,298.3% during the 1st quarter. Bank of America Corp DE now owns 190,724 shares of the energy company’s stock worth $1,245,000 after purchasing an additional 177,084 shares during the last quarter. Finally, Amundi boosted its position in FuelCell Energy by 118.4% during the first quarter. Amundi now owns 50,947 shares of the energy company’s stock valued at $333,000 after purchasing an additional 27,621 shares in the last quarter. Institutional investors 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.
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