FuelCell Energy (NASDAQ:FCEL) Stock Price Down 3.2%

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price traded down 3.2% during trading on Monday . The stock traded as low as $0.44 and last traded at $0.44. 3,638,406 shares changed hands during trading, a decline of 89% from the average session volume of 32,948,910 shares. The stock had previously closed at $0.45.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. B. Riley raised FuelCell Energy to a “hold” rating in a report on Tuesday, June 25th. UBS Group decreased their price objective on FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating for the company in a report on Tuesday, August 6th.

FuelCell Energy Price Performance

The firm has a market capitalization of $204.58 million, a P/E ratio of -1.63 and a beta of 3.90. The business has a fifty day moving average of $0.56 and a 200-day moving average of $0.86. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.80 and a current ratio of 6.55.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Monday, June 10th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.01. The business had revenue of $22.42 million during the quarter, compared to analyst estimates of $22.12 million. FuelCell Energy had a negative return on equity of 15.66% and a negative net margin of 123.30%. During the same period in the prior year, the company posted ($0.09) EPS. On average, sell-side analysts forecast that FuelCell Energy, Inc. will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCEL. Atria Wealth Solutions Inc. boosted its stake in FuelCell Energy by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 113,371 shares of the energy company’s stock valued at $181,000 after purchasing an additional 15,441 shares in the last quarter. Victory Capital Management Inc. boosted its stake in FuelCell Energy by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 60,575 shares of the energy company’s stock valued at $97,000 after purchasing an additional 11,109 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in FuelCell Energy by 13.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,571,508 shares of the energy company’s stock valued at $5,714,000 after purchasing an additional 430,184 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of FuelCell Energy by 6.6% during the 4th quarter. BNP Paribas Financial Markets now owns 305,760 shares of the energy company’s stock valued at $489,000 after acquiring an additional 18,844 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of FuelCell Energy by 73.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 845,794 shares of the energy company’s stock valued at $1,260,000 after acquiring an additional 358,332 shares during the last quarter. 42.78% of the stock is owned by institutional investors.

About FuelCell Energy

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell and electrolysis platforms that decarbonize power and produce hydrogen. The company provides various configurations and applications of its platform, including on-site power, utility grid support, and microgrid, as well as distributed hydrogen; solid oxide-based electrolysis; solutions for long duration hydrogen-based energy storage and electrolysis technology; and carbon capture, separation, and utilization systems.