FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating)’s share price dropped 10.1% on Monday after Craig Hallum lowered their price target on the stock from $6.00 to $3.00. Craig Hallum currently has a hold rating on the stock. FuelCell Energy traded as low as $3.38 and last traded at $3.38. Approximately 134,100 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 20,337,111 shares. The stock had previously closed at $3.76.
Separately, KeyCorp reaffirmed a “sector weight” rating on shares of FuelCell Energy in a report on Thursday, June 2nd. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, FuelCell Energy currently has an average rating of “Hold” and a consensus target price of $5.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in shares of FuelCell Energy by 23.3% during the first quarter. Bank of America Corp DE now owns 388,147 shares of the energy company’s stock worth $2,236,000 after buying an additional 73,446 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in FuelCell Energy by 40.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 916,894 shares of the energy company’s stock valued at $5,281,000 after purchasing an additional 266,052 shares in the last quarter. Toroso Investments LLC lifted its position in shares of FuelCell Energy by 69.4% during the 1st quarter. Toroso Investments LLC now owns 288,562 shares of the energy company’s stock valued at $1,662,000 after acquiring an additional 118,221 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of FuelCell Energy by 513.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 805,976 shares of the energy company’s stock valued at $4,642,000 after acquiring an additional 674,506 shares during the period. Finally, Advisors Asset Management Inc. lifted its position in shares of FuelCell Energy by 58.9% during the 1st quarter. Advisors Asset Management Inc. now owns 64,692 shares of the energy company’s stock valued at $373,000 after acquiring an additional 23,975 shares during the period. 42.07% of the stock is currently owned by hedge funds and other institutional investors.
The company has a debt-to-equity ratio of 0.11, a quick ratio of 6.38 and a current ratio of 7.41. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -12.53 and a beta of 4.37. The company has a 50-day moving average of $4.35 and a 200-day moving average of $5.25.
FuelCell Energy (NASDAQ:FCEL – Get Rating) last issued its quarterly earnings data on Thursday, June 9th. The energy company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $16.40 million for the quarter, compared to analyst estimates of $32.32 million. FuelCell Energy had a negative return on equity of 12.76% and a negative net margin of 120.33%. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. As a group, analysts expect that FuelCell Energy, Inc. will post -0.27 earnings per share for the current year.
FuelCell Energy Company Profile (NASDAQ:FCEL)
FuelCell Energy, Inc, together with its subsidiaries, designs, manufactures, sells, installs, operates, and services stationary fuel cell power plants for distributed baseload power generation. It offers SureSource1500, a 1.4-megawatt (MW) platform; SureSource 3000, a 2.8 MW platform; SureSource 4000, a 3.7 MW platform; SureSource 250, a 250- kilowatt (kW) platform; SureSource 400, a 400-kW platform; and SureSource Hydrogen, a 2.3 MW platform that is designed to produce up to 1,200 kilograms of hydrogen per day for multi-megawatt utility, microgrid, and distributed hydrogen applications, as well as on-site heat and chilling applications.