FuelCell Energy (NASDAQ:FCEL) Shares Gap Up to $2.37

Posted by Defense World Staff on Jul 16th, 2023

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL – Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $2.37, but opened at $2.45. FuelCell Energy shares last traded at $2.48, with a volume of 4,956,897 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Craig Hallum lowered their price objective on shares of FuelCell Energy from $3.00 to $2.50 in a research report on Friday, June 9th. B. Riley lowered their price target on shares of FuelCell Energy from $4.00 to $2.50 in a research report on Tuesday, June 27th.

FuelCell Energy Trading Down 6.8 %

The firm’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.73. The company has a quick ratio of 5.83, a current ratio of 7.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $898.94 million, a P/E ratio of -6.70 and a beta of 3.59.

FuelCell Energy (NASDAQ:FCEL – Get Free Report) last posted its earnings results on Thursday, June 8th. The energy company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The firm had revenue of $38.40 million for the quarter, compared to the consensus estimate of $25.49 million. FuelCell Energy had a negative return on equity of 18.42% and a negative net margin of 79.13%. The business’s revenue was up 134.1% on a year-over-year basis. During the same period last year, the company posted ($0.08) EPS. As a group, equities research analysts expect that FuelCell Energy, Inc. will post -0.3 earnings per share for the current fiscal year.

Institutional Trading of FuelCell Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of FCEL. Harel Insurance Investments & Financial Services Ltd. grew its stake in FuelCell Energy by 30.5% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 187,542 shares of the energy company’s stock worth $521,000 after buying an additional 43,789 shares in the last quarter. Alpine Global Management LLC purchased a new position in FuelCell Energy in the 4th quarter worth approximately $124,000. MetLife Investment Management LLC grew its stake in FuelCell Energy by 8.7% in the 4th quarter. MetLife Investment Management LLC now owns 214,017 shares of the energy company’s stock worth $595,000 after buying an additional 17,207 shares in the last quarter. Vontobel Holding Ltd. grew its stake in FuelCell Energy by 26.7% in the 1st quarter. Vontobel Holding Ltd. now owns 3,092,783 shares of the energy company’s stock worth $8,814,000 after buying an additional 652,078 shares in the last quarter. Finally, MQS Management LLC purchased a new position in FuelCell Energy in the 3rd quarter worth approximately $126,000. Institutional investors own 46.99% of the company’s stock.

About FuelCell Energy

(Get Free Report)

FuelCell Energy, Inc, together with its subsidiaries, manufactures and sells stationary fuel cell energy platforms that decarbonize power and produce hydrogen. It offers SureSource 1500, 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.

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