FuelCell Energy Stock to Reverse Split on Monday, November 11th (NASDAQ:FCEL)

FuelCell Energy, Inc. (NASDAQ:FCEL) shares are scheduled to reverse split before the market opens on Monday, November 11th. The 1-30 reverse split was announced on Thursday, November 7th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, November 8th.

FuelCell Energy Price Performance

Shares of FCEL traded down $0.05 during mid-day trading on Thursday, reaching $0.29. The company had a trading volume of 66,493,562 shares, compared to its average volume of 31,166,945. The company has a market capitalization of $163.80 million, a price-to-earnings ratio of -1.33 and a beta of 3.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.97 and a current ratio of 6.91. The company’s 50 day simple moving average is $0.38 and its 200 day simple moving average is $0.58. FuelCell Energy has a 1-year low of $0.29 and a 1-year high of $1.84.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results on Thursday, September 5th. The energy company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The firm had revenue of $23.70 million for the quarter, compared to analyst estimates of $23.22 million. FuelCell Energy had a negative net margin of 135.76% and a negative return on equity of 17.02%. During the same quarter last year, the business posted ($0.06) earnings per share. Analysts expect that FuelCell Energy will post -0.25 EPS for the current year.

Analysts Set New Price Targets

FCEL has been the subject of a number of research reports. UBS Group dropped their price objective on shares of FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating for the company in a report on Tuesday, August 6th. Canaccord Genuity Group reduced their price objective on shares of FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a research note on Friday, September 6th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its stake in FuelCell Energy by 106.0% during the second 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 last quarter. Fermata Advisors LLC boosted its stake in FuelCell Energy by 54.5% during the second quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock worth $53,000 after acquiring an additional 29,113 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in FuelCell Energy by 3.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 875,952 shares of the energy company’s stock worth $1,042,000 after purchasing an additional 30,158 shares during the period. SageView Advisory Group LLC bought a new stake in FuelCell Energy in the first quarter valued at $41,000. Finally, Algert Global LLC bought a new position in shares of FuelCell Energy during the 2nd quarter worth about $29,000. 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.