FuelCell Energy (NASDAQ:FCEL) Shares Down 12.7%

FuelCell Energy, Inc. (NASDAQ:FCEL)’s share price dropped 12.7% during mid-day trading on Tuesday . The stock traded as low as $0.45 and last traded at $0.45. Approximately 22,958,924 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 32,944,027 shares. The stock had previously closed at $0.52.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FCEL. UBS Group dropped their target price on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. B. Riley raised shares of FuelCell Energy to a “hold” rating in a research report on Tuesday, June 25th.

FuelCell Energy Stock Down 7.6 %

The stock has a market cap of $210.25 million, a P/E ratio of -1.71 and a beta of 3.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.80 and a current ratio of 6.55. The firm’s 50-day moving average is $0.59 and its two-hundred day moving average is $0.89.

FuelCell Energy (NASDAQ:FCEL) last announced its quarterly earnings results on Monday, June 10th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $22.42 million during the quarter, compared to analyst estimates of $22.12 million. FuelCell Energy had a negative net margin of 123.30% and a negative return on equity of 15.66%. During the same quarter in the previous year, the business earned ($0.09) EPS. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -0.26 earnings per share for the current year.

Institutional Trading of FuelCell Energy

Institutional investors and hedge funds have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in shares of FuelCell Energy by 22.5% during the 4th quarter. Victory Capital Management Inc. now owns 60,575 shares of the energy company’s stock worth $97,000 after buying an additional 11,109 shares in the last quarter. Baader Bank Aktiengesellschaft boosted its holdings in FuelCell Energy by 97.9% in the fourth quarter. Baader Bank Aktiengesellschaft now owns 26,454 shares of the energy company’s stock valued at $42,000 after acquiring an additional 13,084 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in FuelCell Energy by 15.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 113,371 shares of the energy company’s stock worth $181,000 after buying an additional 15,441 shares during the last quarter. BNP Paribas Financial Markets boosted 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 purchasing an additional 18,844 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of FuelCell Energy by 106.0% during the 2nd quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after buying an additional 26,223 shares during the period. Institutional investors own 42.78% of the company’s stock.

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.