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- 1 NASDAQ: FCEL stock was down 6% on the August 22 trading session.
- 2 FCEL’s share price is declining steadily – over 22.85% in a week and 38.15% in a month.
NASDAQ: FCEL stock price lost 6% on the August 22 trading session; it opened at $1.55, lowered to $1.41, it hit a high of $1.58 and closed at $1.44 with an intraday trading volume of 12.998 Million.
In the 52-week time frame, FCEL stock highest traded at $4.73, and its lowest trading price was $1.41. FuelCell Energy, Inc. has an overall market capitalization of $645.957 MIllion, and its share average trading volume is 10.224 Million.
FCEL’s share price is declining. In the weekly time frame, it lost 22.85% of its price, and in a month, its prices slipped over 38.15%. FuelCell Energy, Inc. share annual price target is $2.49, which is around 73.34% greater than its current trading price.
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Federated Hermes Inc. disclosed in its Securities and Exchange Commission filing that it has reduced its position by 60.07% in FuelCell Energy, Inc. After selling a significant chunk of his FCEL shares, Federated Hermes Inc. now owns 149,306 company shares.
Excluding Federated Hermes IncSome other significant hedge fund managers reduced and increased their holdings of FCEL shares. Commonwealth Equity Service LLC increased its position in FuelCell Energy by around 3.6%.
FCEL Stock Price Analysis
FCEL stock has been declining since July 20. Earlier on July 18, it was trading above $2.30. Technical aspects of FuelCell Energy, Inc. stock show that the primary reason behind the decline is the extreme selling pressure.
If sellers continue their dominance in the coming session, there are possibilities that FCEL’s share price might register a fresh 52-week low by the end of this week, and it might also face the immediate support of $1.30 and followed by $1.20.
If buyers succeed in taking control, they might pull the price up to resistance (R1) of $1.80 and possibly the next resistance of $2. As per market analysts, FCEL stock price might open a few percent higher than previous trading prices.
According to TradingView, 449.276 Million FuelCell Energy, Inc. shares are free floating in the market, and the remaining 868.328k shares are closely held by the company’s financial backers or the board of directors.
FuelCell Energy Inc. Earnings & Revenue
In Q1 2023, the company was expected to report $26.85 Million in revenue, but impressing its investors, it reported $37.07 Million in revenue. Similarly, in Q2, the company reported 50.42% more revenue than estimated figures; however, the expected value was $25.49 Million, but it reported $38.35 Million. For Q3, the company is expected to report $27.68 Million, and for Q4, it is expected to report $28.9 Million.
Earnings per Share of FuelCell Energy surged over 28.73% in Q1 2023, and a decline of 17.79% in EPS was seen in Q2. In the financial year 2022, the company reported 137.04 Million in revenue, around 4.78% less than the estimated revenue.
From the reported revenue of 2022, the gross profit of the company was -21%, earnings before interest, taxes, depreciation, and amortization (EBITDA) was -92%, earnings before interest and taxes (EBIT) was -109%, and net income was -109%.
Technical Levels
Support Levels: $1.30 and $1.20
Resistance Levels: $1.80 and $2
Conclusion
FCEL stock price has been on a month-long decline amid sustained selling pressure. Big investors may have disposed of their FCEL shares while some giants purchased FCEL shares in the past few months. As per market analysts, stock price might decline further as the selling pressure is yet to show signs of slowing.
Disclaimer
The views and opinions stated by the author or anyone named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
