FuelCell Energy (NASDAQ:FCEL) Shares Gap Down Following Insider Selling

FuelCell Energy, Inc. (NASDAQ:FCEL) shares gapped down prior to trading on Wednesday after an insider sold shares in the company. The stock had previously closed at $25.96, but opened at $21.18. FuelCell Energy shares last traded at $23.2690, with a volume of 6,656,143 shares traded.

Specifically, EVP Shankar Achanta sold 2,500 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the transaction, the executive vice president directly owned 2,618 shares of the company’s stock, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analyst Ratings Changes

Several research analysts have commented on FCEL shares. UBS Group upped their price objective on shares of FuelCell Energy from $7.25 to $22.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Canaccord Genuity Group lifted their target price on shares of FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. 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. Wall Street Zen downgraded shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Wells Fargo & Company raised their price objective on shares of FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, June 16th. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.00.

More FuelCell Energy News

Here are the key news stories impacting FuelCell Energy this week:

• Positive Sentiment: FuelCell Energy announced a strategic collaboration with Siemens to develop scalable fuel cell power solutions, including electrical balance-of-plant systems and integrated distributed energy projects, which could improve project execution and support future growth. Siemens and FuelCell Energy Collaborate to Explore Scalable Fuel Cell Power Solutions
• Positive Sentiment: The Siemens partnership is aimed at speeding deployment of 100+ MW commercial projects and could open more opportunities in data centers, industrial facilities, and other mission-critical power markets. Bloom Energy Rebounds; ‘Categorically Rejects’ Short-Seller Report
• Neutral Sentiment: An insider filing showed EVP Shankar Achanta sold 2,500 shares, but the transaction was relatively small and does not appear to be the main driver of the stock’s move. FuelCell Energy EVP Sells Stock
• Negative Sentiment: FuelCell Energy priced an upsized public offering of 10.7 million shares at $21 each for about $225 million in gross proceeds, which raised dilution concerns for existing shareholders and weighed on the stock. FuelCell Energy Announces Upsize and Pricing of Offering of Common Stock
• Negative Sentiment: Investors also appear to be taking profits after FCEL’s recent sharp run-up, which added to the selloff following the financing announcement. Why FuelCell Energy Stock Is Tumbling on Wednesday

FuelCell Energy Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 8.59 and a quick ratio of 7.20. The firm’s 50 day moving average is $21.26 and its 200 day moving average is $12.57. The firm has a market cap of $1.56 billion, a P/E ratio of -3.50 and a beta of 2.31.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($1.05). 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 during the quarter, compared to analysts’ expectations of $40.47 million. During the same quarter last year, the company posted ($1.79) EPS. As a group, analysts anticipate that FuelCell Energy, Inc. will post -1.84 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KMG Fiduciary Partners LLC bought a new position in FuelCell Energy during the 2nd quarter valued at approximately $324,000. Optiver Holding B.V. bought a new stake in FuelCell Energy in the first quarter worth $88,000. Bank of America Corp DE boosted its holdings in 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 in the last quarter. Amundi boosted its holdings in FuelCell Energy by 118.4% in the first quarter. Amundi now owns 50,947 shares of the energy company’s stock worth $333,000 after acquiring an additional 27,621 shares in the last quarter. Finally, Entropy Technologies LP grew its stake 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 worth $245,000 after acquiring an additional 8,336 shares during the last quarter. Hedge funds and other 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.