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

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock is set to reverse split 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 Trading Down 15.1 %

Shares of FCEL traded down $0.05 during trading hours on Thursday, reaching $0.29. The stock had a trading volume of 66,493,562 shares, compared to its average volume of 31,166,945. FuelCell Energy has a 52 week low of $0.29 and a 52 week high of $1.84. The firm has a 50-day moving average of $0.38 and a 200 day moving average of $0.58. The company has a market cap of $163.80 million, a P/E ratio of -1.33 and a beta of 3.91. The company has a quick ratio of 4.97, a current ratio of 6.91 and a debt-to-equity ratio of 0.18.

FuelCell Energy (NASDAQ:FCEL) last released its quarterly earnings results on Thursday, September 5th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $23.70 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted ($0.06) EPS. On average, sell-side analysts expect that FuelCell Energy will post -0.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group decreased their target price on FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. Canaccord Genuity Group decreased their price target on 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 Trading of FuelCell Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its position in FuelCell Energy by 156.6% in the third quarter. SG Americas Securities LLC now owns 4,708,109 shares of the energy company’s stock worth $1,789,000 after buying an additional 2,873,171 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in FuelCell Energy by 42.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 479,379 shares of the energy company’s stock valued at $571,000 after buying an additional 141,747 shares during the period. Tidal Investments LLC grew its position in FuelCell Energy by 36.4% during the first quarter. Tidal Investments LLC now owns 627,893 shares of the energy company’s stock worth $747,000 after buying an additional 167,657 shares in the last quarter. Virtu Financial LLC bought a new position in FuelCell Energy in the 1st quarter worth about $285,000. Finally, Inspire Investing LLC purchased a new stake in shares of FuelCell Energy in the 1st quarter valued at about $353,000. 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.