FuelCell Energy, Inc. (NASDAQ:FCEL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in FuelCell Energy, Inc. (NASDAQ:FCEL) by 96.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 43,643 shares of the energy company’s stock after selling 1,326,599 shares during the quarter. Bank of New York Mellon Corp owned 0.21% of FuelCell Energy worth $395,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FCEL. Integrated Wealth Concepts LLC grew its position in shares of FuelCell Energy by 7.5% in the third quarter. Integrated Wealth Concepts LLC now owns 74,021 shares of the energy company’s stock valued at $28,000 after purchasing an additional 5,150 shares during the period. Point72 DIFC Ltd purchased a new position in FuelCell Energy in the 3rd quarter valued at about $90,000. JPMorgan Chase & Co. boosted its holdings in FuelCell Energy by 35.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock worth $207,000 after buying an additional 143,786 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in FuelCell Energy by 4.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock worth $208,000 after buying an additional 22,153 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of FuelCell Energy by 5.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,977,835 shares of the energy company’s stock valued at $1,512,000 after acquiring an additional 216,539 shares during the last quarter. Hedge funds and other institutional investors own 42.78% of the company’s stock.

FuelCell Energy Trading Down 4.5 %

Shares of FCEL stock opened at $4.70 on Friday. FuelCell Energy, Inc. has a twelve month low of $4.65 and a twelve month high of $37.20. The stock has a market cap of $99.38 million, a price-to-earnings ratio of -0.59 and a beta of 3.71. The company’s 50-day moving average price is $6.82 and its 200-day moving average price is $9.26. The company has a current ratio of 6.01, a quick ratio of 4.48 and a debt-to-equity ratio of 0.20.

FuelCell Energy (NASDAQ:FCEL) last posted its earnings results on Tuesday, March 11th. The energy company reported ($1.42) earnings per share for the quarter, beating the consensus estimate of ($1.52) by $0.10. The company had revenue of $19.00 million for the quarter, compared to analyst estimates of $35.37 million. FuelCell Energy had a negative net margin of 113.09% and a negative return on equity of 18.58%. During the same period in the previous year, the business posted ($1.25) EPS. As a group, equities analysts predict that FuelCell Energy, Inc. will post -6.11 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on FCEL shares. Jefferies Financial Group lowered their price target on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating on the stock in a research note on Friday, December 20th. Canaccord Genuity Group reaffirmed a “hold” rating and set a $12.00 target price on shares of FuelCell Energy in a research note on Friday, December 20th. TD Cowen increased their target price on shares of FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, December 20th. B. Riley lowered their price target on shares of FuelCell Energy from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 12th. Finally, UBS Group dropped their price objective on shares of FuelCell Energy from $15.00 to $13.75 and set a “neutral” rating for the company in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $10.03.

FuelCell Energy 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.