FuelCell Energy (NASDAQ:FCEL) Stock Price Down 9.1% – Time to Sell?

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price dropped 9.1% during trading on Tuesday . The company traded as low as $21.80 and last traded at $22.1610. 4,273,674 shares changed hands during trading, a decline of 21% from the average session volume of 5,425,286 shares. The stock had previously closed at $24.39.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FCEL shares. Wells Fargo & Company upped their price objective on FuelCell Energy from $6.00 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, June 16th. B. Riley Financial boosted their target price on FuelCell Energy from $8.00 to $13.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 9th. Wall Street Zen lowered FuelCell Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Jefferies Financial Group upped their price target on FuelCell Energy from $7.20 to $16.00 and gave the company a “hold” rating in a research note on Wednesday, June 10th. Finally, 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. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, FuelCell Energy currently has an average rating of “Reduce” and a consensus target price of $15.04.

FuelCell Energy Trading Down 9.3%

The company has a market capitalization of $1.50 billion, a P/E ratio of -3.36 and a beta of 2.42. 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 business’s 50-day moving average price is $16.75 and its two-hundred day moving average price is $10.93.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data on Monday, June 8th. The energy company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by ($0.01). The firm had revenue of $35.59 million during the quarter, compared to the consensus estimate 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 prior year, the company earned ($1.79) EPS. As a group, analysts forecast that FuelCell Energy, Inc. will post -1.84 EPS for the current fiscal year.

Hedge Funds Weigh In On FuelCell Energy

Institutional investors have recently modified their holdings of the business. Optiver Holding B.V. bought a new stake in FuelCell Energy during the 1st quarter worth approximately $88,000. Bank of America Corp DE raised its holdings in FuelCell Energy by 1,298.3% during the 1st quarter. Bank of America Corp DE now owns 190,724 shares of the energy company’s stock worth $1,245,000 after buying an additional 177,084 shares during the period. Amundi lifted its stake in FuelCell Energy by 118.4% in the first quarter. Amundi now owns 50,947 shares of the energy company’s stock valued at $333,000 after buying an additional 27,621 shares in the last quarter. Entropy Technologies LP lifted its stake in FuelCell Energy by 28.6% in the first quarter. Entropy Technologies LP now owns 37,519 shares of the energy company’s stock valued at $245,000 after buying an additional 8,336 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in FuelCell Energy in the 1st quarter worth $758,000. Institutional investors own 42.78% of the company’s stock.

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.