FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) traded down 8.5% during trading on Wednesday . The stock traded as low as $32.92 and last traded at $32.9350. Approximately 10,835,839 shares changed hands during mid-day trading, an increase of 75% from the average daily volume of 6,179,607 shares. The stock had previously closed at $36.01.
Analysts Set New Price Targets
FCEL has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of FuelCell Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, May 20th. KeyCorp reiterated a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. TD Cowen reissued a “hold” rating and set a $16.00 price target (up from $9.00) on shares of FuelCell Energy in a research note on Tuesday, June 9th. Jefferies Financial Group upgraded FuelCell Energy from a “hold” rating to a “buy” rating and upped their price target for the stock from $16.00 to $24.00 in a report on Friday, June 26th. Finally, Wells Fargo & Company raised their price objective on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, June 16th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.00.
View Our Latest Analysis on FuelCell Energy
FuelCell Energy Stock Performance
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its earnings results on Monday, June 8th. The energy company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). FuelCell Energy had a negative return on equity of 15.90% and a negative net margin of 132.41%.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 previous year, the firm posted ($1.79) EPS. On average, analysts predict that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Optiver Holding B.V. acquired a new stake in FuelCell Energy during the 1st quarter valued at $88,000. Bank of America Corp DE raised its holdings in shares of FuelCell Energy by 1,298.3% in the first quarter. Bank of America Corp DE now owns 190,724 shares of the energy company’s stock worth $1,245,000 after acquiring an additional 177,084 shares during the last quarter. Amundi lifted its position in shares of FuelCell Energy by 118.4% in the first quarter. Amundi now owns 50,947 shares of the energy company’s stock valued at $333,000 after acquiring an additional 27,621 shares in the last quarter. Entropy Technologies LP lifted its position in shares of FuelCell Energy by 28.6% in the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after acquiring an additional 8,336 shares in the last quarter. Finally, First Trust Advisors LP acquired a new stake in shares of FuelCell Energy during the first quarter valued at $758,000. 42.78% of the stock is currently owned by institutional investors and hedge funds.
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.
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