FuelCell Energy (NASDAQ:FCEL) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of FuelCell Energy (NASDAQ:FCEL) from a hold rating to a sell rating in a report released on Sunday.

A number of other research analysts have also commented on the stock. TD Cowen reaffirmed a “hold” rating and set a $16.00 price objective (up from $9.00) on shares of FuelCell Energy in a research report on Tuesday, June 9th. KeyCorp reissued a “sector weight” rating on shares of FuelCell Energy in a research report on Tuesday, June 9th. Canaccord Genuity Group boosted their price target on FuelCell Energy from $12.00 to $30.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. B. Riley Financial upgraded FuelCell Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $32.00 in a research report on Monday, June 29th. Finally, Wells Fargo & Company lifted their price objective on FuelCell Energy from $6.00 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.83.

FuelCell Energy Trading Down 3.2%

Shares of FuelCell Energy stock opened at $19.20 on Friday. FuelCell Energy has a 1 year low of $3.78 and a 1 year high of $37.88. The company’s fifty day simple moving average is $21.83 and its 200-day simple moving average is $14.61. The company has a market cap of $1.54 billion, a price-to-earnings ratio of -2.92 and a beta of 2.37. The company has a current ratio of 8.59, a quick ratio of 7.20 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its earnings results on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing the consensus estimate of $0.52 by ($1.05). The company had revenue of $35.59 million for the quarter, compared to analyst estimates 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 company earned ($1.79) earnings per share. As a group, sell-side analysts expect that FuelCell Energy will post -1.73 EPS for the current year.

Insider Buying and Selling at FuelCell Energy

In other news, EVP Shankar Achanta sold 2,500 shares of FuelCell Energy stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $28.71, for a total transaction of $71,775.00. Following the sale, the executive vice president directly owned 2,618 shares in the company, valued at approximately $75,162.78. The trade was a 48.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc bought a new stake in shares of FuelCell Energy in the 4th quarter valued at approximately $21,149,000. Invesco Ltd. lifted its position in shares of FuelCell Energy by 75.4% during the 4th quarter. Invesco Ltd. now owns 1,505,430 shares of the energy company’s stock worth $11,005,000 after buying an additional 647,151 shares during the period. CenterBook Partners LP acquired a new stake in FuelCell Energy in the 4th quarter valued at $9,348,000. Renaissance Technologies LLC boosted its stake in FuelCell Energy by 14.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,219,600 shares of the energy company’s stock valued at $8,915,000 after buying an additional 150,600 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in FuelCell Energy by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,073,609 shares of the energy company’s stock valued at $8,374,000 after buying an additional 23,981 shares in the last quarter. 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.