FuelCell Energy (NASDAQ:FCEL) Trading Down 7.2% – Time to Sell?

Shares of FuelCell Energy, Inc. (NASDAQ:FCEL) dropped 7.2% during trading on Tuesday . The company traded as low as $6.16 and last traded at $6.20. Approximately 288,011 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 1,045,704 shares. The stock had previously closed at $6.68.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group cut their target price on shares of FuelCell Energy from $45.00 to $37.50 and set a “hold” rating for the company in a research note on Friday, September 6th. UBS Group cut their target price on shares of FuelCell Energy from $40.50 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th.

FuelCell Energy Price Performance

The firm has a fifty day moving average of $0.50 and a 200 day moving average of $0.62. The company has a market capitalization of $3.17 billion, a P/E ratio of -22.15 and a beta of 3.91. The company has a current ratio of 6.91, a quick ratio of 4.97 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Thursday, September 5th. The energy company reported ($2.10) EPS for the quarter, hitting analysts’ consensus estimates of ($2.10). The company had revenue of $23.70 million for the quarter, compared to analysts’ expectations of $23.22 million. FuelCell Energy had a negative return on equity of 17.02% and a negative net margin of 135.76%. During the same period in the previous year, the firm earned ($1.80) EPS. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -0.24 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new position in shares of FuelCell Energy in the first quarter valued at approximately $41,000. Algert Global LLC acquired a new position in FuelCell Energy during the second quarter worth $29,000. AQR Capital Management LLC boosted 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 lifted its stake in shares of FuelCell Energy by 54.5% in the 2nd quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock valued at $53,000 after purchasing an additional 29,113 shares during the last quarter. Finally, Bogart Wealth LLC lifted its stake in shares of FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock valued at $43,000 after purchasing an additional 111,750 shares during the last quarter. 42.78% of the stock is owned by institutional investors and hedge funds.

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.