FuelCell Energy (NASDAQ:FCEL) Stock Passes Above 200 Day Moving Average – Here’s What Happened

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.24 and traded as high as $7.58. FuelCell Energy shares last traded at $7.39, with a volume of 1,288,255 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FCEL shares. Canaccord Genuity Group reissued a “hold” rating and set a $12.00 target price on shares of FuelCell Energy in a report on Friday, December 19th. TD Cowen upped their price objective on shares of FuelCell Energy from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, December 19th. Wall Street Zen lowered shares of FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of FuelCell Energy in a report on Monday, December 29th. Finally, Zacks Research lowered shares of FuelCell Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $9.06.

FuelCell Energy Stock Performance

The company has a debt-to-equity ratio of 0.17, a current ratio of 6.63 and a quick ratio of 5.36. The stock’s 50-day moving average price is $8.23 and its 200-day moving average price is $7.24. The company has a market cap of $352.78 million, a P/E ratio of -0.94 and a beta of 1.32.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Thursday, December 18th. The energy company reported ($0.83) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.14. The business had revenue of $55.02 million during the quarter, compared to analysts’ expectations of $47.23 million. FuelCell Energy had a negative net margin of 118.80% and a negative return on equity of 18.85%. During the same quarter in the previous year, the company earned ($1.99) EPS. Equities analysts anticipate that FuelCell Energy, Inc. will post -6.11 EPS for the current year.

Insider Activity

In related news, Director Betsy B. Bingham sold 8,608 shares of the stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $8.52, for a total transaction of $73,340.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On FuelCell Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in shares of FuelCell Energy by 2,207.5% during the 4th quarter. Deutsche Bank AG now owns 423,580 shares of the energy company’s stock worth $3,096,000 after purchasing an additional 405,223 shares in the last quarter. Franklin Resources Inc. bought a new stake in FuelCell Energy during the fourth quarter worth about $84,000. CenterBook Partners LP bought a new stake in FuelCell Energy during the fourth quarter worth about $9,348,000. Goldman Sachs Group Inc. grew its stake in FuelCell Energy by 111.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 169,262 shares of the energy company’s stock worth $1,237,000 after buying an additional 89,322 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in FuelCell Energy by 115.3% in the 4th quarter. Geode Capital Management LLC now owns 592,390 shares of the energy company’s stock valued at $4,333,000 after buying an additional 317,301 shares during the period. 42.78% of the stock is 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.