FuelCell Energy (NASDAQ:FCEL) Shares Gap Down – Here’s Why

FuelCell Energy, Inc. (NASDAQ:FCEL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $24.40, but opened at $23.24. FuelCell Energy shares last traded at $23.8480, with a volume of 2,236,360 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FCEL shares. Wells Fargo & Company dropped their price target on shares of FuelCell Energy from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Tuesday, March 10th. 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. Finally, Jefferies Financial Group set a $7.20 price target on shares of FuelCell Energy and gave the company a “hold” rating in a research report on Tuesday, March 10th. Seven research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $8.24.

FuelCell Energy Stock Down 0.4%

The company has a quick ratio of 6.51, a current ratio of 7.96 and a debt-to-equity ratio of 0.19. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -3.50 and a beta of 2.22. The business’s fifty day moving average is $11.49 and its two-hundred day moving average is $9.10.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Monday, March 9th. The energy company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.16. The firm had revenue of $30.53 million during the quarter, compared to analysts’ expectations of $42.22 million. FuelCell Energy had a negative net margin of 107.51% and a negative return on equity of 17.76%. Equities analysts forecast that FuelCell Energy, Inc. will post -2.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FCEL. Kestra Advisory Services LLC acquired a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd increased its position in shares of FuelCell Energy by 1,316.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 7,618 shares of the energy company’s stock valued at $59,000 after purchasing an additional 7,080 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new stake in shares of FuelCell Energy in the 4th quarter valued at approximately $78,000. Independent Advisor Alliance purchased a new stake in shares of FuelCell Energy in the 3rd quarter valued at approximately $80,000. Finally, Franklin Resources Inc. purchased a new stake in shares of FuelCell Energy in the 4th quarter valued at approximately $84,000. 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.