FuelCell Energy (NASDAQ:FCEL) Shares Down 6.3%

FuelCell Energy, Inc. (NASDAQ:FCEL) shares were down 6.3% during trading on Thursday . The stock traded as low as $0.43 and last traded at $0.43. Approximately 8,469,002 shares traded hands during trading, a decline of 74% from the average daily volume of 33,082,719 shares. The stock had previously closed at $0.46.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FCEL. B. Riley upgraded FuelCell Energy to a “hold” rating in a research note on Tuesday, June 25th. UBS Group lowered 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 note on Tuesday, August 6th.

FuelCell Energy Stock Performance

The company has a market cap of $213.13 million, a PE ratio of -1.72 and a beta of 3.90. The company has a current ratio of 6.55, a quick ratio of 4.80 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $0.60 and its two-hundred day moving average is $0.89.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings data 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 firm had revenue of $22.42 million for the quarter, compared to analysts’ expectations 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 last year, the business posted ($0.09) earnings per share. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -0.26 EPS for the current year.

Hedge Funds Weigh In On FuelCell Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. lifted its stake in FuelCell Energy by 22.5% in the fourth quarter. Victory Capital Management Inc. now owns 60,575 shares of the energy company’s stock worth $97,000 after purchasing an additional 11,109 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its stake in shares of FuelCell Energy by 97.9% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 26,454 shares of the energy company’s stock worth $42,000 after acquiring an additional 13,084 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in FuelCell Energy by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 113,371 shares of the energy company’s stock valued at $181,000 after acquiring an additional 15,441 shares during the period. BNP Paribas Financial Markets grew its position in FuelCell Energy by 6.6% in the 4th quarter. BNP Paribas Financial Markets now owns 305,760 shares of the energy company’s stock valued at $489,000 after acquiring an additional 18,844 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in FuelCell Energy by 106.0% in the second quarter. AQR Capital Management LLC now owns 50,952 shares of the energy company’s stock worth $33,000 after purchasing an additional 26,223 shares during the period. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Company Profile

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.