FuelCell Energy (NASDAQ:FCEL) Stock, Quote.Headers.trade-ideas

FuelCell Energy

FuelCell Energy Inc is a fuel-cell power company. FuelCell designs manufactures, sells, installs, operates, and services fuel cell products and electrolysis platforms that decarbonize power and produce hydrogen. It serves various industries such as Industrial, Wastewater treatment, Commercial and Hospitality, Data centers and Communications, Education and Healthcare, and others. Geographically, the company generates a majority of its revenue from the United States followed by South Korea.

FCEL stock

Earnings

Equities

News

Guidance

Movers

FCEL

FCEL reported a 7% revenue decline in Q3, but beat consensus. Cash equivalents totaled $326M and backlog rose by 12.6%.

FuelCell Energy Beats Q3 Revenue Estimates, Backlog Surges 12.6% On New Contracts

Contracts

Small Cap

ETF Series Solutions Defiance Next Gen H2 ETF

HDRO

HYDR

FuelCell Energy received a CAD$5.9 million grant from Natural Resources Canada&#39;s Clean Fuels Fund for two projects using its electrolyzer technology to produce low-carbon synthetic diesel fuels. 

What&#39;s Going On With FuelCell Energy Stock Today?

falling

Penny Stocks

FuelCell Energy shares are trading lower Tuesday after the company announced a special stockholder meeting to consider and vote on a proposal to authorize a reverse stock split. 

Why Is FuelCell Energy Stock Tanking?

FuelCell Energy Inc

FUELCELL ENERGY INC PFD B by FuelCell Energy, Inc.

Canaccord Genuity analyst Jed Dorsheimer maintains FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) with a Hold and lowers the price target from $1.5 to $1.25.

Price Target

Analyst Ratings

Canaccord Genuity Maintains Hold on FuelCell Energy, Lowers Price Target to $1.25

WIIM

FuelCell Energy shares are trading higher after the company reported better-than-expected Q3 revenue results.

FuelCell Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) reported a third-quarter revenue decline of 7% year-over-year to $23.695 million, <a href="https://www.benzinga.com/pressreleases/24/09/g40727070/fuelcell-energy-reports-third-quarter-of-fiscal-2024-results" target="_blank" rel="noreferrer noopener">beating the consensus of $22.62 million.</a>
Service Agreements revenue dropped to $1.4 million from $9.8 million YoY due to no module exchanges; Generation revenues jumped 22% to $13.4 million, driven by revenue generated by the Toyota and Derby projects. Advanced Technologies contract revenues rose to $8.6 million from $4.7 million.
The company reported a loss per share of $0.07, which aligned with the consensus. The company reported a gross loss of $6.2 million, an improvement from the previous year&#8217;s $8.2 million.
Operating expenses decreased to $27.4 million from $33.2 million a year ago. Adjusted EBITDA loss improved to $20.1 million from a $31.6 million loss last year.
FCEL&#8217;s cash and cash equivalents, restricted cash and cash equivalents, and short-term investments totaled $326 million as of July-end. Backlog rose 12.6% to $1.20 billion, driven by a long-term service agreement with Gyeonggi Green Energy.
&#8220;We are taking proactive steps to help preserve balance sheet strength while continuing to execute on our growth objectives and position our platforms to capitalize on the energy transition and the growing distributed power generation opportunity,&#8221; stated Michael Bishop, Executive Vice President, Chief Financial Officer, and Treasurer.
The company sold 95.2 million shares at $0.71 each in the quarter, raising $67.3 million in gross proceeds and $65.9 million net after $1.4 million in fees.
Price Action: FCEL shares are trading higher by 11% at $0.4584 at the last check Thursday.
Image: Courtesy of FuelCell Energy
Don&#8217;t miss the opportunity to dominate in a volatile market at the&nbsp;<a target="_blank" href="https://www.benzinga.com/events/small-cap/global-small-cap-conference-2024/" rel="noreferrer noopener">Benzinga SmallCAP Conference</a>&nbsp;on Oct. 9-10 at the Chicago Marriott Downtown Magnificent Mile. Get exclusive access to CEO presentations, 1:1 meetings with investors, and valuable insights from top financial experts. Whether you&#8217;re a trader, entrepreneur, or investor, this event offers unparalleled opportunities to grow your portfolio and network with industry leaders. Secure your spot and get your tickets today!

FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) reported quarterly losses of $(0.07) per share which met the analyst consensus estimate. The company reported quarterly sales of $23.70 million which beat the analyst consensus estimate of $22.62 million by 4.74 percent. This is a 7.11 percent decrease over sales of $25.51 million the same period last year.

Earnings Beats

FuelCell Energy Q3 2024 GAAP EPS $(0.07), Inline, Sales $23.70M Beat $22.62M Estimate

FuelCell Energy, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares are trading lower on Thursday. The company received a CAD$5.9 million grant from Natural Resources Canada&#8217;s Clean Fuels Fund to support two projects using its electrolyzer <a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/g40507300/fuelcell-energy-announces-major-clean-fuel-fund-support-for-efuel-projects-in-canada" rel="noreferrer noopener">technology for producing synthetic fuel</a>.
These projects, in collaboration with Canadian Nuclear Laboratories, Expander Energy Inc., Nuclear Promise X, and St. Marys Cement, focus on producing low-carbon synthetic diesel fuels.
A 5 kWe electrolyzer from FuelCell Energy will be deployed at St. Marys Cement facility to utilize CO₂ from the plant&#8217;s flue gas. This project aims to capture carbon emissions and repurpose them into synthesis gas (PtL), which can be used to produce various energy and feedstock materials.
The first of the two CNL projects will assess the economic viability of producing synthetic diesel fuels from biomass gasification and hydrogen generated by solid oxide electrolysis.
The company will explore the feasibility of building a plant to produce 550 barrels per day of synthetic fuel using these methods.
The second project will demonstrate synthesis gas production through co-electrolysis of water and carbon dioxide.
The fuels will be made using zero-carbon hydrogen generated from nuclear power and FuelCell Energy&#8217;s Solid Oxide electrolysis technology.
As CO2-neutral fuels, eFuels offer a viable decarbonization solution for transportation, high-grade heat applications, and residential or commercial heating.
Jason Few, President &amp; CEO of FuelCell Energy, said, &#8220;These projects align perfectly with our mission to provide advanced, sustainable energy solutions to the world and will demonstrate the differentiated capabilities of our solid oxide platform to leverage nuclear power at 100% electrical efficiency, and the practicality and scalability of our technology.&#8221;
Last week, the company announced a special stockholder meeting to consider and vote on a proposal to<a target="_blank" href="https://www.benzinga.com/news/24/08/40470336/why-is-fuelcell-energy-stock-tanking" rel="noreferrer noopener"> authorize a reverse stock split</a>.&nbsp;
Investors can gain exposure to the stock via&nbsp;ETF Series Solutions Defiance Next Gen H2 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HDRO#NYSE">HDRO</a>) and Global X Hydrogen ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HYDR#NASDAQ">HYDR</a>).
Price Action: FCEL shares are down 6.07% at $0.4302&nbsp;at the last check Thursday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/40511054" target="_blank" rel="noreferrer noopener">Halliburton&#8217;s North Houston Campus Affected by Cyberattack: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

What's Going On With FuelCell Energy Stock Today?

FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares are trading lower Tuesday after the company announced a special stockholder meeting to consider and vote on a proposal to <a href="https://www.benzinga.com/pressreleases/24/08/g40459109/fuelcell-energy-inc-announces-special-stockholder-meeting">authorize a reverse stock split.&nbsp;</a>
The Details:
FuelCell will hold the stockholder meeting to vote on the reverse stock split on Oct. 31, 2024 with stockholders of record as of the close of business on Sept. 10 entitled to receive notice of and to vote at the special meeting.&nbsp;
The company did not disclose a specific ratio or range for the proposed reverse stock split, but said further details will be available in a proxy statement to be filed at a later date. 
Read Next: <a href="https://www.benzinga.com/news/earnings/24/08/40451412/sidus-space-reports-q2-results-after-45-gain-monday">Sidus Space Reports Q2 Results After 45% Gain Monday</a>
FuelCell shares are down more than 70% year-to-date and 25.68% of shares are being sold short, according to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>. 
<h3 class="wp-block-heading">Will FCEL Stock Go Up?</h3>
When trying to assess whether or not FuelCell Energy will trade higher from current levels, it's a good idea to take a look at analyst forecasts. 
Wall Street has an average 12-month price target of $0.50 on FuelCell Energy with a neutral rating from one analyst. 
In the last month, one analyst has adjusted price targets. Here's a look at recent price target changes <a href="https://www.benzinga.com/quote/FCEL/analyst-ratings">[Analyst Ratings]</a>. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering FuelCell Energy have performed in recent history. 
Stocks don't move in a straight line. The average stock market return is approximately 10% per year. FuelCell Energy is 72.07% down year-to-date. The average analyst price target suggests the stock could have further upside ahead.
For a broad overview of everything you need to know about FuelCell Energy, visit <a href="https://www.benzinga.com/quote/FCEL">here</a>. If you want to go above and beyond, there's no better tool to help you do just that than <a href="https://pro.benzinga.com/">Benzinga Pro</a>. Start your free trial today.
FCEL Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, FuelCell Energy shares are down 18.4% at 42 cents at the time of publication Tuesday.
Read Also:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40450880/bit-digital-reports-mixed-q2-results-eps-miss-revenue-up-80">Bit Digital Reports Mixed Q2 Results: EPS Miss, Revenue Up 80%</a></li>
</ul>
Image: Mediamodifier from Pixabay

UBS analyst Manav Gupta maintains FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) with a Neutral and lowers the price target from $1.35 to $0.5.

UBS Maintains Neutral on FuelCell Energy, Lowers Price Target to $0.5

FuelCell Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares are trading higher. The company on Thursday highlighted a significant Korean market expansion milestone and provided some <a href="https://www.benzinga.com/pressreleases/24/07/g39726910/fuelcell-energy-marks-a-significant-milestone-in-korean-market-expansion">details from a recent event in Seoul</a>.
What Happened: FuelCell said it recently held an event in Seoul, reinforcing the company&#8217;s commitment to the Korean market and highlighting how its two differentiated carbonate and solid oxide platforms help enable the energy transition to sustainable energy.
&#8220;During our event with industry leaders, the FuelCell Energy team answered questions about our targeted set of sustainable energy solutions,&#8221; said Jason Few, CEO of FuelCell.
&#8220;We also outlined advancements that we have made to our carbonate fuel cell, including carbon capture capabilities, and we introduced our second electrochemical platform&#8211;solid oxide&#8211;that we believe will play a vital role in Korea&#8217;s transition to hydrogen, particularly as it relates to utilizing hydrogen as a fuel for power generation and converting zero carbon energy from nuclear and other renewable sources to clean hydrogen.&#8221;
FuelCell said its technology is now deployed across South Korea producing more than 100 megawatts of sustainable electricity without combusting fuel. The company is committed to working with Korea on its Hydrogen Economy Roadmap, which aims to supply 15 gigawatts of power from fuel cells by 2040.
Related Link: <a href="https://www.benzinga.com/news/earnings/24/07/39727793/azz-q1-earnings-beat-cash-flow-strengthens-more">AZZ Q1: Earnings Beat, Cash Flow Strengthens &amp; More</a>
FCEL Price Action: <a href="https://www.benzinga.com/quote/FCEL">FuelCell shares</a> were up 3.52% at 62 cents at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: courtesy of FuelCell.

FuelCell Energy Hosts "Accelerating Korea's Energy Transition with Advanced Fuel Cell Solutions" Event; Showcases Cutting-Edge Technology, Strategic Vision, And Carbonate And Solid Oxide Platforms To Korean Energy Industry Leaders; Announces GGE Purchase Of 42 Upgraded Carbonate Fuel Cells For World's Largest Single-Site Fuel Cell Power Platform

FuelCell Energy Reinforces Commitment To Korean Market At Seoul Event; Highlights Differentiated Carbonate And Solid Oxide Platforms For Sustainable Energy Transition

FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares are trading higher Wednesday, though the stock remains down by more than 30% over the past month. The stock climbed Wednesday amid strength in EV-related stocks after several EV makers, including Tesla, reported <a href="https://www.benzinga.com/markets/equities/24/07/39595720/tesla-deliveries-fall-for-second-straight-quarter-but-stock-takes-off-as-q2-numbers-exceed-expec">vehicle delivery figures this week.</a>
The move may also be aided by retail investors as they pile into heavily-shorted stocks on a holiday-shortened trading week. According to data from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, 22.12% of available shares are being sold short and more than 25 million shares have already been traded in the session.&nbsp;
Read Next:<a href="https://www.benzinga.com/news/24/07/39607758/what-happened-with-advanced-micro-devices-stock-today"> What Happened With Advanced Micro Devices Stock Today?</a>
FuelCell Energy <a href="https://www.benzinga.com/pressreleases/24/06/g39476739/fuelcell-energy-to-help-power-uconns-innovation-drive-towards-2030-carbon-neutrality-with-solid-ox">announced last week</a> the University of Connecticut (UConn) will use its solid oxide fuel cell technology for its Innovation Partnership Building.
Four of FuelCell's 250-kilowatt solid oxide fuel cells will be used to provide power and thermal energy to support current and planned future demand of the building and allow it to operate independently from the local utility grid.
<h2 class="wp-block-heading">Should I Sell My FCEL Stock?</h2>
Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.
Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.
Shares of FuelCell Energy have lost 70.5% year to date. This compares to the average annual return of -58.49%, meaning the stock has underperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity. 
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. FuelCell Energy stock currently has an RSI of 4.86, indicating oversold conditions.
For analysis tools, charting data and access to exclusive stock news, check out <a href="https://pro.benzinga.com/">Benzinga PRO. Try it for free.</a> 
FCEL Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, FuelCell Energy shares are up 9.9% at 65 cents at the time of publication Wednesday.
Read Also:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/news/24/07/39600553/whats-going-on-with-chargepoint-stock">What&#8217;s Going On With ChargePoint Stock?</a></li>
</ul>
Image: from Pixabay

What's Going On With FuelCell Energy Stock?

FuelCell Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares are moving lower on Tuesday. Here&#8217;s a look at <a href="https://www.benzinga.com/pressreleases/24/06/g39476739/fuelcell-energy-to-help-power-uconns-innovation-drive-towards-2030-carbon-neutrality-with-solid-ox">what&#8217;s going on</a>.
What To Know: FuelCell has announced that the University of Connecticut (UConn) will use its solid oxide fuel cell technology for its Innovation Partnership Building.
Four of FuelCell&#8217;s 250-kilowatt solid oxide fuel cells with a combined one megawatt of electricity generation capability will be used to provide power and thermal energy to support current and planned future demand of the&nbsp;building. FuelCell&#8217;s technology will allow it to operate independently from the local utility grid.&nbsp;
FuelCell Energy said the company and UConn will work together as part of a power purchase agreement. They will also collaborate on educational opportunities for students that include lectures, facility tours and internship opportunities for engineering students.
News out of competitor Plug Power Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) may also be reaching FuelCell shares on Tuesday. Plug Power announced that it has achieved 7.5 gigawatts in global Basic Engineering and Design Package (BEDP) contracts since introducing the offer two years ago.
&#8220;The introduction of our BEDP has significantly propelled the growth of our electrolyzer business,&#8221; said Andy Marsh, CEO of Plug Power. &#8220;This milestone not only highlights the increasing demand for green hydrogen but also underscores&nbsp;Plug&#8217;s industry leading position in PEM electrolyzer technology and driving the green hydrogen revolution.&#8221;
Plug Power and FuelCell Energy both operate in the fuel cell and renewable energy space. 
Check This Out: <a href="https://www.benzinga.com/news/24/06/39479689/solaredge-technologies-stock-is-tumbling-tuesday-whats-going-on">SolarEdge Technologies Stock Is Tumbling Tuesday: What&#8217;s Going On?</a>
<h2 class="wp-block-heading">How To Buy FCEL Stock</h2>
Besides going to a brokerage platform to purchase a share &#8211; or fractional share &#8211; of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument. 
For example, in FuelCell Energy's case, it is in the Industrials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
FCEL Price Action: FuelCell shares were down 4% at $0.65 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: 3844328 from Pixabay.

PLUG

FuelCell Energy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NYSE">FCEL</a>) short percent of float has fallen 7.82% since its last report. The company recently reported that it has 103.34 million shares sold short, which is 20.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.02 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>FuelCell Energy Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1718999121_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for FuelCell Energy has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing FuelCell Energy's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, FuelCell Energy's peer group average for short interest as a percentage of float is 9.88%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

(FCEL) - Analyzing FuelCell Energy's Short Interest

Shares of Ovid Therapeutics Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OVID#NASDAQ">OVID</a>) dipped 65.7% to $1.1285 after Takeda&#8217;s Skyline study in Dravet syndrome missed its primary endpoint.
Takeda Pharmaceutical Co Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAK#NYSE">TAK</a>) announced topline data from its SKYLINE and SKYWAY Phase 3 studies of Soticlestat (TAK-935) for the treatment of Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS).
AMMO shares dipped 19.1% to $2.0306 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Interactive Strength Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRNR#NASDAQ">TRNR</a>) shares climbed 148% to $7.07 after dipping 19% on Friday.</li>
<li>Mustang Bio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIO#NASDAQ">MBIO</a>) shares jumped 145% to $0.32 after the company announced safety and efficacy data from the complete Waldenstrom Macroglobulinemia cohort of its Phase 1/2 clinical trial of MB-106, showing an overall response rate of 90% with one patient remaining in complete remission at 31 months.</li>
<li>Allego N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALLG#NASDAQ">ALLG</a>) gained 126.4% to $1.6750 after the company and its majority shareholder, Meridiam, announced a transaction framework agreement under which Meridiam will launch a tender offer for all issued and outstanding Allego shares not owned by Meridiam, with the option to tender shares for $1.70 per share in cash.</li>
<li>Scinai Immunotherapeutics Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCNI#NASDAQ">SCNI</a>) shares gained 92.6% to $6.74 after surging 24% on Friday. Scinai Immunotherapeutics, last week, received a non-binding Letter of Intent from the European Investment Bank for converting loan into equity.</li>
<li>TRxADE HEALTH, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEDS#NASDAQ">MEDS</a>) rose 47% to $9.50.</li>
<li>The Aaron&#8217;s Company, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AAN#NYSE">AAN</a>) gained 32.2% to $9.97 after the company announced that it entered into a definitive agreement to be acquired by IQVentures Holdings.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) jumped 27% to $0.1044 after the company announced a $1 million share repurchase program.</li>
<li>Xponential Fitness, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPOF#NYSE">XPOF</a>) surged 21.3% to $13.68. Xponential Fitness announced the appointment of Mark King as Chief Executive Officer.</li>
<li>Silynxcom Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NASDAQ">SYNX</a>) gained 21.8% to $3.14.</li>
<li>Venus Concept Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERO#NASDAQ">VERO</a>) gained 13.6% to $1.0650 after the company announced that it has entered a new strategic resurfacing and skin tightening device supply arrangement with Skin Laundry Holdings.</li>
<li>Envirotech Vehicles, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EVTV#NASDAQ">EVTV</a>) rose 12.8% to $1.4899.</li>
<li>CNS Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNSP#NASDAQ">CNSP</a>) gained 12.8% to $3.1459. CNS Pharmaceuticals recently announced pricing of registered direct offering and concurrent private placement.</li>
<li>ENDRA Life Sciences Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NDRA#NASDAQ">NDRA</a>) gained 11.8% to $0.1159 after a 13G filing showed a 9.99% passive stake from S.H.N. Financial Investments Ltd.</li>
<li>Lexicon Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LXRX#NASDAQ">LXRX</a>) climbed 10.5% to $2.0099. HC Wainwright &amp; Co. analyst Joseph Pantginis initiated coverage on Lexicon Pharmaceuticals with a Buy rating and announced a price target of $10.</li>
<li>XTL Biopharmaceuticals Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XTLB#NASDAQ">XTLB</a>) shares climbed 10.5% to $2.31 after falling around 5% on Friday. XTL recently entered into definitive agreement to acquire The Social Proxy.</li>
<li>Mirum Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIRM#NASDAQ">MIRM</a>) gained 10.2% to $28.58. Mirum&#8217;s Volixibat achieved interim analyses in VANTAGE PBC and VISTAS PSC studies.</li>
<li>Ouster, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUST#NYSE">OUST</a>) shares rose 8.5% to $11.21. Ouster Director Virginia Boulet bought a total of 10,000 shares at an average price of $10.30.</li>
<li>Primo Water Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRMW#NASDAQ">PRMW</a>) gained 7.8% to $24.08 after the company and BlueTriton agreed to merge.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Aerovate Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVTE#NASDAQ">AVTE</a>) shares dipped 90.8% to $2.26 after the company reported 24-week topline results from phase 2b portion of IMPAHCT evaluating AV-101 for pulmonary arterial hypertension.</li>
<li>Kaival Brands Innovations Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KAVL#NASDAQ">KAVL</a>) shares dipped 33% to $3.9950. Kaival Brands Innovations Group shares jumped 338% on Friday after the company announced a $5 million offering of 3,012,048 units at $1.66 per unit.</li>
<li>Bluejay Diagnostics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJDX#NASDAQ">BJDX</a>) fell 29.4% to $0.36 in pre-market trading after jumping 12% on Friday.</li>
<li>Workhorse Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) declined 26% to $2.22. Workhorse announced a 1-for-20 reverse stock split of its common stock last week after shareholders approved the move at the company's annual meeting of stockholders in May.</li>
<li>AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) fell 25.7% to $11.67 after the company announced a private offering of $125 million of convertible senior notes.</li>
<li>iPower Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IPW#NYSE">IPW</a>) shares fell 24.4% to $2.49 after the company announced a $5 million registered direct offering.</li>
<li>Scorpius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#NASDAQ">SCPX</a>) fell 21.3% to $0.0763 after the company received NYSE American notice of delisting and reported plans to appeal.</li>
<li>Atara Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATRA#NASDAQ">ATRA</a>) declined 20.8% to $0.4044. Atara Biotherapeutics announced a 1-for-25 reverse stock split.</li>
<li>22nd Century Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XXII#NASDAQ">XXII</a>) dipped 20.7% to $0.6405.</li>
<li>SELLAS Life Sciences Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLS#NASDAQ">SLS</a>) fell 20.6% to $1.19. SELLAS Life Sciences announced review of ongoing Phase 3 REGAL clinical trial of Galinpepimut-S in acute myeloid leukemia by IDMC.</li>
<li>Virgin Galactic Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NYSE">SPCE</a>) dipped 19.6% to $11.00.</li>
<li>Feutune Light Acquisition Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLFV#NASDAQ">FLFV</a>) shares fell 18.5% to $7.99.</li>
<li>MYT Netherlands Parent B.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYTE#NASDAQ">MYTE</a>) declined 13.1% to $4.31.</li>
<li>Biomea Fusion, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMEA#NASDAQ">BMEA</a>) fell 12.8% to $4.9190.</li>
<li>BIMI Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIMI#NASDAQ">BIMI</a>) shares fell 12.6% to $1.92 after gaining 23% on Friday.</li>
<li>Cemtrex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) fell 12.2% to $0.2451.</li>
<li>La Rosa Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRHC#NASDAQ">LRHC</a>) shares declined 11.1% to $1.04. La Rosa Holdings shares jumped around 76% on Friday after the company filed a request for the withdrawal of its registration statement on a Form S-1.</li>
<li>Evotec SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NYSE">EVO</a>) shares declined 10.5% to $4.07.</li>
<li>ZKH Group Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZKH#NYSE">ZKH</a>) fell 10.2% to $3.5850. ZKH Group recently announced a $50 million share repurchase program.</li>
<li>Bitdeer Technologies Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTDR#NASDAQ">BTDR</a>) declined 9% to $9.05.</li>
<li>FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) fell 6.8% to $0.7636.</li>
<li>Louisiana-Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) declined 6.3% to $86.25 after Goldman Sachs downgraded the stock from Neutral to Sell and lowered its price target from $89 to $81.</li>
<li>Coeur Mining, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CDE#NYSE">CDE</a>) fell 5.3% to $5.44.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/06/39357134/wall-streets-most-accurate-analysts-spotlight-on-3-materials-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Spotlight On 3 Materials Stocks Delivering High-Dividend Yields</a>

Intraday Update

Markets

AGRI

ALLG

AMCX

ATRA

AVTE

BIMI

BJDX

BMEA

BTDR

CETX

CNSP

EVTV

FLFV

KAVL

LRHC

LXRX

MBIO

MEDS

MIRM

MYTE

NDRA

OUST

OVID

PRMW

SCNI

SCPX

SPCE

SYNX

TRNR

VERO

WKHS

XPOF

XTLB

XXII

Why Ovid Therapeutics Shares Are Trading Lower By 19%? Here Are Other Stocks Moving In Monday's Mid-Day Session

Shares of Skye Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKYE#NASDAQ">SKYE</a>) fell sharply during Monday's session after the company announced its SBI-100 Ophthalmic Emulsion Phase 2a trial did not achieve target product profile and has <a href="https://www.benzinga.com/quote/SKYE/news">discontinued the program</a>.
Skye Bioscience shares tumbled 18.9% to $8.87 on Monday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Big Tree Cloud Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSY#NASDAQ">DSY</a>) shares jumped 123% to $4.3001 following the completion of the company&#8217;s business combination with Plutonian Acquisition Corp. and amid continued volatility following its Nasdaq debut last week.</li>
<li>KWESST Micro Systems Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KWE#NASDAQ">KWE</a>) gained 79.8% to $0.7082 after the company was awarded a sub-contract worth up to C$48 million by Thales Canada for software development services.</li>
<li>Wearable Devices Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WLDS#NASDAQ">WLDS</a>) jumped 63% to $0.5547. Wearable Devices reported the successful completion of its first phase of integration with Qualcomm&#8217;s Snapdragon Spaces&#x2122;, extended reality (XR) Developer Platform.</li>
<li>New Horizon Aircraft Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOVR#NASDAQ">HOVR</a>) gained 45.1% to $1.0450 after declining around 8% on Friday.</li>
<li>ICC Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICCH#NASDAQ">ICCH</a>) jumped 43% to $22.03. Mutual Capital Group announced plans to acquire ICC Holdings, Inc. for $23.50 per share in a $73.8 million transaction.</li>
<li>Spectaire Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPEC#NASDAQ">SPEC</a>) shares gained 32.3% to $0.5623 after jumping over 15% on Friday.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 28.6% to $283.00.</li>
<li>Renovaro Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RENB#NASDAQ">RENB</a>) rose 25.6% to $1.62.</li>
<li>Wetouch Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WETH#NASDAQ">WETH</a>) surged 25% to $2.23.</li>
<li>Journey Medical Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DERM#NASDAQ">DERM</a>) gained 24% to $5.83.</li>
<li>Opera Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRA#NASDAQ">OPRA</a>) surged 22% to $16.83.</li>
<li>MicroAlgo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MLGO#NASDAQ">MLGO</a>) rose 20.2% to $5.33.</li>
<li>Ivanhoe Electric Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IE#NYSE">IE</a>) gained 18% to $10.74.</li>
<li>iLearningEngines, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AILE#NASDAQ">AILE</a>) jumped 17.5% to $5.58.</li>
<li>Silynxcom Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#NYSE">SYNX</a>) surged 17% to $2.62.</li>
<li>Spectaire Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPEC#NASDAQ">SPEC</a>) jumped 16.6% to $0.4960 after the company announced a purchase order and delivery of its advanced AireCore units to American Ag Energy.</li>
<li>AgriFORCE Growing Systems Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGRI#NASDAQ">AGRI</a>) gained 15% to $0.1070 after the company was awarded a new US patent titled &#8216;Automated Growing Systems.&#8217;</li>
<li>FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) rose 13.6% to $0.9869. FuelCell Energy reported a second-quarter fiscal 2024 revenue decline of 42% year-over-year to $22.42 million, beating the consensus of $21.35 million.</li>
<li>Cactus, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WHD#NYSE">WHD</a>) gained 13.6% to $53.19.</li>
<li>Tellurian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TELL#NASDAQ">TELL</a>) gained 12.8% to $0.8448.</li>
<li>SEACOR Marine Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMHI#NYSE">SMHI</a>) gained 12.1% to $13.26.</li>
<li>Presto Automation Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRST#NASDAQ">PRST</a>) shares rose 10.9% to $0.0988 after surging 17% on Friday.</li>
<li>KKR &amp; Co. Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) gained 9.8% to $107.63 after it was announced the company will join the S&amp;P 500.</li>
<li>Diamond Offshore Drilling, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DO#NYSE">DO</a>) climbed 9.8% to $15.30 after Noble announced an agreement to acquire the company.</li>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) gained 8.8% to $379.95 after it was announced the company will join the S&amp;P 500.</li>
<li>LENZ Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LENZ#NASDAQ">LENZ</a>) rose 8.2% to $16.85.</li>
<li>Nisun International Enterprise Development Group Co., Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NISN#NASDAQ">NISN</a>) shares rose 7.6% to $3.6302 after the company said it has established a daily supply capacity of over 20 million eggs.</li>
<li>Esperion Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESPR#NASDAQ">ESPR</a>) gained 7.5% to $3.01.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) gained 6.8% to $29.66 following a report indicating Elliott Investment Management has built a stake in the company.</li>
<li>Geron Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GERN#NASDAQ">GERN</a>) rose 5.9% to $4.8592. Barclays initiated coverage on Geron with an Overweight rating and announced a price target of $9.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>1847 Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#NYSE">EFSH</a>) dipped 32.5% to $0.4828.</li>
<li>Baijiayun Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>) fell 32% to $3.7001</li>
<li>Sunshine Biopharma, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFM#NASDAQ">SBFM</a>) shares fell 31.4% to $0.3830.</li>
<li>Tharimmune, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THAR#NASDAQ">THAR</a>) dipped 30% to $3.6051</li>
<li>Tonix Pharmaceuticals Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNXP#NASDAQ">TNXP</a>) fell 29.3% to $2.3550. Tonix Pharmaceuticals recently announced a 1-for-32 reverse stock split.</li>
<li>Enservco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENSV#NYSE">ENSV</a>) fell 29.3% to $0.1713 after the company announced the staff of NYSE Regulation determined to commence proceedings to delist its common stock.</li>
<li>Perion Network Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PERI#NASDAQ">PERI</a>) shares fell 28.3% to $8.84 after the company cut its revenue outlook.</li>
<li>Sify Technologies Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIFY#NASDAQ">SIFY</a>) fell 24.7% to $0.6249 after the company announced the voluntary delisting date of its ADS rights from Nasdaq.</li>
<li>SeaStar Medical Holding Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICU#NASDAQ">ICU</a>) declined 23% to $4.22.</li>
<li>Latam Logistic Properties, S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPA#NYSE">LPA</a>) fell 19.9% to $19.62</li>
<li>China Liberal Education Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLEU#NASDAQ">CLEU</a>) shares fell 16.8% to $2.66 in pre-market trading after jumping 58% on Friday.</li>
<li>Virax Biolabs Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAX#NASDAQ">VRAX</a>) shares fell 14.8% to $1.68.</li>
<li>Trinity Place Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TPHS#NYSE">TPHS</a>) fell 14.7% to $0.1498 after jumping 45% on Friday.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) fell 13.1% to $24.53. On Friday, the stock traded lower as Roaring Kitty held a live stream and the company reported Q1 earnings.</li>
<li>Golden Matrix Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GMGI#NASDAQ">GMGI</a>) declined 12.5% to $3.16.</li>
<li>Novavax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVAX#NASDAQ">NVAX</a>) declined 11.8% to $16.01.</li>
<li>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>) fell 10.6% to $3.4150.</li>
<li>Methode Electronics, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MEI#NYSE">MEI</a>) fell 10.6% to $10.11</li>
<li>BioCardia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BCDA#NASDAQ">BCDA</a>) shares fell 10% to $3.35. On Friday, BioCardia announced it received approval from the United States Patent Office for its application entitled, "Radial and Transendocardial Delivery Catheter."</li>
<li>Cumulus Media Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMLS#NASDAQ">CMLS</a>) shares fell 7.6% to $2.9550 after jumping around 22% on Friday.</li>
<li>Compass Minerals International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) fell 7.6% to $12.36. Compass Minerals International named Jeffrey Cathey as its new chief financial officer.</li>
<li>Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) fell 7% to $68.08.</li>
<li>Roma Green Finance Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROMA#NASDAQ">ROMA</a>) shares declined 6% to $0.4683. Roma Green Finance filed for offering in a best efforts self-underwritten offering of up to 3.6 million of ordinary shares.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39249956/flexshopper-and-3-other-stocks-under-5-insiders-are-buying">FlexShopper And 3 Other Stocks Under $5 Insiders Are Buying</a>

AILE

BCDA

CELH

CLEU

CMLS

CRWD

DERM

EFSH

ENSV

ESPR

GERN

GMGI

HOUS

HOVR

ICCH

LENZ

MLGO

NISN

NVAX

OPRA

PERI

PRST

RENB

ROMA

SBFM

SIFY

SKYE

SMHI

SPEC

TELL

THAR

TNXP

TPHS

VRAX

WETH

WLDS

Why Skye Bioscience Shares Are Trading Lower By 19%? Here Are Other Stocks Moving In Monday's Mid-Day Session

<h3>Gainers</h3>
<ul>
<li>New Horizon Aircraft (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOVR#NASDAQ">HOVR</a>) shares moved upwards by 41.0% to $1.01 during Monday's regular session. The market value of their outstanding shares is at $18.4 million. </li>
<li>Nauticus Robotics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) stock rose 24.19% to $0.19. The market value of their outstanding shares is at $12.0 million. </li>
<li>Virco Mfg (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRC#NASDAQ">VIRC</a>) stock increased by 19.4% to $15.75. The market value of their outstanding shares is at $257.4 million. As per the news, the Q1 earnings report came out yesterday. </li>
<li>Silynxcom (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SYNX#AMEX">SYNX</a>) shares rose 17.41% to $2.63. The company's market cap stands at $13.8 million. </li>
<li>FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) shares rose 16.19% to $1.01. The market value of their outstanding shares is at $456.4 million. The company's, Q2 earnings came out today. </li>
<li>KULR Tech Gr (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/KULR#AMEX">KULR</a>) stock increased by 16.08% to $0.32. The company's market cap stands at $59.0 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>1847 Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/EFSH#AMEX">EFSH</a>) shares decreased by 29.9% to $0.5 during Monday's regular session. The market value of their outstanding shares is at $2.9 million. </li>
<li>JE Cleantech Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JCSE#NASDAQ">JCSE</a>) shares declined by 14.05% to $1.04. The market value of their outstanding shares is at $5.2 million. </li>
<li>Solidion Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STI#NASDAQ">STI</a>) stock decreased by 13.51% to $1.5. The company's market cap stands at $130.7 million. The company's, Q1 earnings came out yesterday. </li>
<li>YY Group Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/YYGH#NASDAQ">YYGH</a>) shares declined by 12.5% to $0.84. The market value of their outstanding shares is at $28.9 million. </li>
<li>Montana Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AIRJ#NASDAQ">AIRJ</a>) shares declined by 10.84% to $9.71. The company's market cap stands at $522.6 million. </li>
<li>Multi Ways Holdings (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/MWG#AMEX">MWG</a>) shares fell 10.12% to $0.39. The market value of their outstanding shares is at $12.0 million. 
See Also: <a href="http://www.benzinga.com/money/best-industrials-stocks/" title="www.benzinga.com/money/best-industrials-stocks/">www.benzinga.com/money/best-industrials-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AIRJ

JCSE

KITT

KULR

VIRC

YYGH

12 Industrials Stocks Moving In Monday's Intraday Session

FuelCell Energy Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) reported a <a target="_blank" href="https://www.benzinga.com/pressreleases/24/06/g39247601/fuelcell-energy-reports-second-quarter-of-fiscal-2024-results" rel="noreferrer noopener">second-quarter fiscal 2024</a> revenue decline of 42% year-over-year to $22.42 million, beating the consensus of $21.35 million.
Service Agreements revenue dropped to $1.4 million from $26.2 million due to no module exchanges; Generation revenues jumped 67% to $14.1 million, driven by new projects.
Advanced Technologies contract revenues rose to $6.9 million, boosted by higher government and other contracts.
The company reported an EPS loss of $0.07, <a href="https://www.benzinga.com/earnings">beating the consensus loss of $0.08.</a>
The company reported a gross loss of $7.1 million, worsening from the previous year&#8217;s $6.1 million, largely due to high costs and unfavorable margins in generation projects.
Operating expenses increased to $34.3 million, driven by higher R&amp;D spending of $16.6 million on advanced power generation and carbon recovery technologies.
Adjusted EBITDA loss was $26.5 million, slightly down from $26.0 million loss last year.
FCEL&#8217;s total unrestricted cash, restricted cash, and short-term investments stood at $313.2 million at the end of the quarter.
As of April-end, the backlog increased by 3.8% to $1.06 billion from $1.02 billion a year earlier. This rise was primarily due to new service agreements with Noeul Green Energy and additional contracts with Esso and EMTEC.
Additionally, a post-quarter <a target="_blank" href="https://www.benzinga.com/news/24/06/39141771/whats-going-on-with-fuelcell-energy-stock-today" rel="noreferrer noopener">agreement with GGE for $159.6 million</a> was added to the backlog, involving the supply of upgraded fuel cell modules for a plant in Korea.
&#8220;We achieved an important milestone toward commercializing new advanced technologies by updating and extending our joint development agreement with ExxonMobil Technology and Engineering Company to jointly develop carbon capture technology, while retaining certain rights to market this product more widely to a global clientele in need of energy transition solutions,&#8221; commented Jason Few, President and Chief Executive Officer.
Jason Few, President and Chief Executive Officer, said, &#8220;We also entered into an exciting new relationship with Ameresco, Inc. to provide the Sacramento Sewer district with our energy delivery and emissions management platform to create clean electricity from onsite biofuel. We were also pleased to report a&nbsp;67%&nbsp;increase in our Generation portfolio revenues, enhancing the recurring revenue profile of our Company.&#8221;
Price Action: FCEL shares are trading higher by 0.59% at $0.8743 at the last check Monday.

FuelCell Energy Beats Projections In Q2, Fuels Hope With New Projects

FuelCell Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) reported quarterly losses of $(0.07) per share which beat the analyst consensus estimate of $(0.08) by 12.5 percent. This is a 22.22 percent increase over losses of $(0.09) per share from the same period last year. The company reported quarterly sales of $22.420 million which beat the analyst consensus estimate of $21.351 million by 5.01 percent. This is a 41.54 percent decrease over sales of $38.349 million the same period last year.

FuelCell Energy Q2 2024 GAAP EPS $(0.07) Beats $(0.08) Estimate, Sales $22.420M Beat $21.351M Estimate

U.S. stocks are poised to start Monday&#8217;s session in the red as traders brace for the all-important decision from the Federal Reserve&#8217;s monetary policy committee on Wednesday and the May inflation report ahead of the rate decision. Although the futures market has factored in a Fed pause, <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39210617/central-banks-are-cutting-interest-rates-will-the-fed-be-the-next-to-move" target="_blank" rel="noreferrer noopener">rate cuts announced by two G7 central banks last week </a>have increased hopes of a dovish message from their U.S. counterpart. Given the paucity of data and the overbought levels, the market may most likely tread water before taking a meaningful move on either side.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>-0.08%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.21%</td>
</tr>
<tr>
<td>R2K</td>
<td>-0.80%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> In premarket trading on Monday,&nbsp;the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.12% to $533.36, and the&nbsp;Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) traded down 0.06% at $462.67, according to&nbsp;<a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.</figcaption></figure>
Cues From Previous Week:
Wall Street posted weekly gain in the week ended June 7 as traders cheered data showing a loss of momentum in the jobs market, which is widely considered a precursor for Fed rate cuts. The Nasdaq Composite and the S&amp;P 500 notched up intraday and closing highs on Wednesday before giving back some gains over the remaining two sessions. Nonetheless, the S&amp;P 500 posted a fresh intraday high on Friday but ended off its Wednesday closing high.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Week&#8217;s Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>+2.38%</td>
<td>17,133.13</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>+1.32%</td>
<td>5,346.99</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.29%</td>
<td>38,798.99</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-2.11%</td>
<td>2,026.55</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
The broader equity market rally seen this year is impressive, given last year's strength and tempered expectations concerning rate cuts, said Comerica Chief Investment Officer John Lynch in his &#8220;Mid-Year Market Outlook&#8221; report. Investors have switched their optimism to artificial intelligence, expecting it to unlock a new era of productive economic growth and higher corporate profitability, he said.
That said, he noted that the gains have become more concentrated in a group now known as the &#8220;Fab Five.&#8221;
Technical indicators suggest the market has more room to run, Lynch said. &#8220;Considering that the S&amp;P 500 traded within the range of 4,950 to 5,250 over the past several months, the Index's recent breakout above that band now suggests that an upside technical target of 5,550 is possible in the coming months,&#8221; he said. That said, the analyst cautioned that the target is attainable only with help from a few catalysts.
&#8220;Equity market fundamentals suggest that the upside technical target may be difficult to sustain, though, without improved support from a combination of interest rates, earnings, and valuation,&#8221; he said.
Fund Strat&#8217;s Tom Lee said in an X post that people who sat out May&#8217;s 5% rally will likely be looking to re-enter the market, hoping for a reentry. &#8220;This is essentially #FOMO,&#8221; he said. He flagged the possibility of gains this week, courtesy of the CPI report and the Fed decision. Also, historically 70% of the time the market rallies in the week after the jobs report, especially if it is a soft report, he said.
Upcoming Economic Data:
The economic calendar of the week is very light, with the June Fed decision and the May inflation data among the widely-watched events. Traders may also focus on the May producer price inflation report and the customary weekly jobless data, both due on Thursday, and the results of the University of Michigan&#8217;s preliminary consumer sentiment for June.
On Monday, the Treasury will auction three- and six-month bills at 11:30 a.m. EDT and three-year notes at 1 p.m. EDT.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) (up over 5%), KKR &amp; Co Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>) (up over 8.50%) and GoDaddy Inc. (NYSE:&nbsp;GDDY) (up over 3%) all rose in premarket trading as they are set to join the S&amp;P 500 Index ahead of the market open on June 24.</li>
<li>Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) rallied nearly 7% after a Wall Street Journal report said Elliott Investment Management has acquired a major stake worth roughly $2 billion.</li>
<li>GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) climbed over 10% following its nearly 40% slump on Friday.</li>
<li>FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) and Yext, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) are among the key names reporting their quarterly results on Monday.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures are little changed above the $75-a-barrel level following last week&#8217;s strong gains, and gold futures are trading week around the $2,314 mark. The 10-year note yielded 4.463%, up 3.4 basis points, ahead of the week&#8217;s key events.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) was flat near the $69,000 level.
Most Asian markets that were open on Monday ended lower, tracking the lackluster sentiment on Wall Street on Friday and looking ahead to the U.S. Fed rate decision. The Japanese market bucked the downtrend as traders digested the revised first-quarter GDP data. GDP fell an annualized 1.8% in the first quarter, not as worse as the 2% contraction estimated in the preliminary report. The Chinese, Hong Kong, and Australian markets remained closed for public holidays.
European stocks traded sharply lower in early trading, led by the French market after Prime Minister Emmanuel Macron said he would call for a snap poll.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/06/39246208/if-youd-invested-1-000-in-nvidia-stock-15-years-ago-heres-how-much-profit-youd-have-built-year-a">If You&#8217;d Invested $1,000 In Nvidia Stock 15 Years Ago, Here&#8217;s How Much Profit You&#8217;d Have Built Year After Year</a>
Image via Shutterstock

Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

Tech

$BTC

YEXT

Wall Street Set To Open Week In The Red On Fed Jitters, Inflation Data Anxiety: GameStop Rebounds, Nvidia Trades After Stock Split

With U.S. stock futures trading mixed this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Calavo Growers, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGW#NASDAQ">CVGW</a>) to report quarterly earnings at 36 cents per share on revenue of $160.46 million after the closing bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Calavo Growers shares rose 0.4% to $25.50 in after-hours trading.</li>
<li>Compass Minerals International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMP#NYSE">CMP</a>) named Jeffrey Cathey as its new chief financial officer. Cathey joined the company in December 2023 as chief accounting officer. Compass Minerals shares slipped 1.4% to $13.20 in the after-hours trading session.</li>
<li>Analysts are expecting FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) to post a quarterly loss at 8 cents per share on revenue of $21.35 million. The company will release earnings before the markets open. FuelCell Energy shares gained 0.6% to $0.8748 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Globus Maritime Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLBS#NASDAQ">GLBS</a>) reported mixed results for its first quarter on Friday. The company posted a quarterly loss of 1 cent per share, compared to market expectations for a loss of 2 cents per share, according to data from Benzinga Pro. The company's sales came in at $7.71 million missing estimates of $8.00 million. Globus Maritime shares declined 5% to $2.09 in the after-hours trading session.</li>
<li>Analysts expect Yext, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>) to post quarterly earnings at 6 cents per share on revenue of $96.33 million after the closing bell. Yext shares gained 1.2% to $5.21 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39226950/jim-cramer-is-worried-about-palo-alto-networks-calls-monday-com-really-good">Jim Cramer Is &#8216;Worried&#8217; About Palo Alto Networks, Calls Monday.com &#8216;Really Good</a>&#8216;

CVGW

GLBS

Calavo Growers, Yext And 3 Stocks To Watch Heading Into Monday

The CNN Money Fear and Greed index showed a slight increase in the overall market sentiment, while the index remained in the &#8220;Neutral&#8221; zone on Friday.
U.S. stocks settled mostly lower on Friday, following the release of stronger-than-expected jobs report. All the three major indices recorded gains last week, with the Dow Jones index gaining 0.29% and the S&amp;P 500 rising around 1.32% during the week.
On the economic data front, U.S. nonfarm payrolls increased by 272,000 in May, a slowdown from April&#8217;s 165,000 and far more than the 180,000 increase anticipated by Econoday. The unemployment rate inched higher from 3.9% to 4%. Average hourly earnings rose by 4.1% year-over-year, up from 3.9% in April and below the expected 3.9% increase.
GameStop Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GME#NYSE">GME</a>) shares dipped more than 39% on Friday after the company released worse-than-expected first-quarter results before schedule and filed to sell up to 75 million shares.
Most sectors on the S&amp;P 500 closed on a negative note, with utilities, materials and real estate stocks recording the biggest losses on Friday. However, financial and information technology stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 87 points to 38,798.99 on Friday. The S&amp;P 500 fell 0.11% at 5,346.99, while the Nasdaq Composite fell 0.23% at 17,133.12 during Friday's session.
Investors are awaiting earnings results from Yext, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YEXT#NYSE">YEXT</a>), FuelCell Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCEL#NASDAQ">FCEL</a>) and Calavo Growers, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVGW#NASDAQ">CVGW</a>) today.
At a current reading of 45.3, the index remained in the &#8220;Neutral&#8221; zone on Friday, versus a prior reading of 44.8.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/06/39226661/top-4-tech-stocks-that-may-explode-this-month">Top 4 Tech Stocks That May Explode This Month</a>

Investor Optimism Improves Slightly Following Jobs Data; US Stocks Record Weekly Gains

The latest announcement is out from Fuelcell Energy (FCEL). FuelCell Energy reported a third-quarter fiscal 2024 revenue decline of 7% year-over-ye...

FuelCell Energy Reports Revenue Dip and Wider Net Loss

FuelCell Energy, Inc. (FCEL) Q3 2024 Earnings Call Transcript

TD Cowen analyst Jeff Osborne maintained a Hold rating on Fuelcell Energy (FCEL – Research Report) today and set a price target of $2.00. Jeff Osbo...

Hold Rating on Fuelcell Energy Amidst Growth Opportunities and Operational Challenges

FuelCell Energy Preferreds: 13.5% Yield Supported By Persistent Common Shareholder Dilution

KeyBanc analyst Sangita Jain maintained a Hold rating on Fuelcell Energy (FCEL – Research Report) today. The company's shares closed yesterday at $...

KeyBanc Sticks to Its Hold Rating for Fuelcell Energy (FCEL)

Praneeth Satish, an analyst from Wells Fargo, maintained the Sell rating on Fuelcell Energy (FCEL – Research Report). The associated price target r...

Fuelcell Energy: A Sell Rating Amidst Revenue Concerns and Operational Inefficiencies

Solar stocks trading higher following last night's presidential debate

Catalyst Watch: FOMC, FedEx earnings, Electronic Arts event, and triple witching day

Solar, clean energy stocks rally ahead of Fed decision on interest rates

Jefferies analyst Dushyant Ailani maintained a Hold rating on Fuelcell Energy (FCEL – Research Report) today and set a price target of $0.50. The c...

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

FuelCell Energy

FuelCell Energy (FCEL) Forecast

FuelCell Energy (NASDAQ:FCEL) Stock, Quote.Headers.trade-ideas