FuelCell Energy Inc (FCEL)

[Hoghead7]

Okay this is purely speculation what makes perfect sense. First, the number one issue for fuel cell energy is to stabilize the company financially. One way they can ensure they do that is by raising enough money through ATM. They had $23.3 million available. 60 cents is not ideal, however it was a much better opportunity then they have had for some time to raise cash and not dilute stock that much. Knowing that the earnings report would only do just so much, they could have taken the opportunity when the stock price was between 60 and 66 cents sell some shares. To make the numbers easy let's say they sold $6 million worth of stock at $0.60. that's very plausible and would only need 10 million shares added. That gives them enough money to pay off Hercules and they would go from approximately 125.9 million to 135.9 million shares and still have $17.3 million ATM shares to sell at a much higher price if needed after they announce Hercules is paid off. So my guess is they knew the earnings report was going to give them an opportunity the cash in ATM and why not at double the price it was at 3 business days before they released earnings.