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

FuelCell Energy, Inc. (NASDAQ:FCEL)’s stock is going to reverse split on the morning of 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 closing bell on Friday, November 8th.

FuelCell Energy Price Performance

FCEL traded down $0.05 during trading on Thursday, reaching $0.29. 66,493,562 shares of the company were exchanged, compared to its average volume of 31,166,945. The company’s 50-day moving average is $0.38 and its two-hundred day moving average is $0.58. The company has a market cap of $163.80 million, a price-to-earnings 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 has a 12-month low of $0.29 and a 12-month high of $1.84.

FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings data on Thursday, September 5th. The energy company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). The business 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 quarter in the prior year, the firm posted ($0.06) EPS. Research analysts forecast that FuelCell Energy will post -0.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on FCEL. Canaccord Genuity Group lowered their price target on FuelCell Energy from $1.50 to $1.25 and set a “hold” rating on the stock in a report on Friday, September 6th. UBS Group decreased their price objective on FuelCell Energy from $1.35 to $0.50 and set a “neutral” rating on the stock in a report on Tuesday, August 6th.

Hedge Funds Weigh In On FuelCell Energy

Large investors have recently modified their holdings of the company. Algert Global LLC purchased a new position in shares of FuelCell Energy during the 2nd quarter valued at about $29,000. AQR Capital Management LLC increased its stake in FuelCell Energy by 106.0% in the 2nd 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. SageView Advisory Group LLC purchased a new position in FuelCell Energy in the 1st quarter worth approximately $41,000. Bogart Wealth LLC increased its stake in FuelCell Energy by 21,285.7% in the 3rd quarter. Bogart Wealth LLC now owns 112,275 shares of the energy company’s stock worth $43,000 after purchasing an additional 111,750 shares during the period. Finally, Fermata Advisors LLC increased its stake in FuelCell Energy by 54.5% in the 2nd quarter. Fermata Advisors LLC now owns 82,500 shares of the energy company’s stock worth $53,000 after purchasing an additional 29,113 shares during the period. 42.78% of the stock is owned by hedge funds and other institutional investors.

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.