FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $19.54, but opened at $18.69. FuelCell Energy shares last traded at $17.6710, with a volume of 1,595,996 shares trading hands.
Analysts Set New Price Targets
A number of research firms recently commented on FCEL. TD Cowen reaffirmed 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. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research note on Tuesday, June 9th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Wells Fargo & Company increased their price target on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FuelCell Energy in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $22.83.
Check Out Our Latest Stock Report on FCEL
FuelCell Energy Trading Down 5.9%
FuelCell Energy (NASDAQ:FCEL – Get Free Report) last announced its quarterly 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 ($1.05). The firm had revenue of $35.59 million during the quarter, compared to analysts’ expectations of $40.47 million. FuelCell Energy had a negative net margin of 132.41% and a negative return on equity of 15.90%. During the same quarter in the previous year, the firm posted ($1.79) EPS. On average, sell-side analysts expect that FuelCell Energy, Inc. will post -1.73 EPS for the current fiscal year.
Insider Buying and Selling at FuelCell Energy
In other news, EVP Shankar Achanta sold 2,500 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $28.71, for a total transaction of $71,775.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.46% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of FuelCell Energy by 31,021.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,516 shares of the energy company’s stock worth $1,078,000 after purchasing an additional 147,042 shares during the period. Dimensional Fund Advisors LP lifted its stake in FuelCell Energy by 459.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 312,536 shares of the energy company’s stock valued at $2,040,000 after acquiring an additional 256,640 shares during the period. First Trust Advisors LP acquired a new stake in FuelCell Energy during the 1st quarter valued at approximately $758,000. CenterBook Partners LP purchased a new stake in shares of FuelCell Energy in the 4th quarter valued at $9,348,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of FuelCell Energy by 1,173,840.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 234,788 shares of the energy company’s stock valued at $1,716,000 after acquiring an additional 234,768 shares during the last quarter. 42.78% of the stock is currently owned by institutional investors.
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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