Technical Support For FuelCell Energy Inc (FCEL), Seventy Seven Energy Inc (SSE), And Miller Energy Resources Inc (MILL)?
New York, NY – GDP INSIDER – 01/29/2015.
FuelCell Energy Inc (NASDAQ:FCEL)’s shares fell 7.46% to end yesterday’s session at $1.24. However, the stock gained some ground in the afterhours, adding $0.01 to have a final bow at $1.25. FCEL touched a session low of $1.22 and a high of $1.36 yesterday, after opening the day at $1.36. The active trading day saw 5.92 million shares exchanging hands compared to the average daily volume of about 4.38 million shares. FCEL ended yesterday’s session with a market cap of $396.51 million on a day that also saw its shares standing 73.84% below their 52-week high.
The massive decline in the stock of FuelCell Energy Inc (NASDAQ:FCEL) was tied to bad news from another fuel cell company. Plug Power Inc (NASDAQ:PLUG) tempered with its 2015 sales forecast and now expects about $100 million of revenue for the year. The company had earlier laid down a guidance of $130 million of revenue. Analysts on the average predicted revenue of $123.7 million for Plug Power.
Seventy Seven Energy Inc (NYSE:SSE) traded in the range of $4.06 and $4.48 and witnessed 1.35 million shares exchanging hands. Yesterday’s volume was greater than the average daily volume of about 1.31 million shares. Having opened the session at $4.48, shares of SSE lacked adequate support and fell 4.02% to end the day in the red at $4.30.
Yesterday’s closing price put SSE 84.83% below its 52-week high.
The oilfield service company reported that its sales declined 4.3% sequentially in the most recent quarter. SSE is under pressure, as crude prices continue to fall, and its clients cut their capital spending to preserve cash.
Miller Energy Resources Inc (NYSE:MILL) opened yesterday’s session at $1.12 and managed to rally in the range of $1.00 and $1.15. About 430,655 shares exchanged hands on the day, compared to the average daily volume of 592,749 shares. At the end of the session, MILL was down
8.18% to $1.01, far below its 52-week high of $8.11.
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