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

Bank of New York Mellon Corp boosted its position in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 18.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,764 shares of the energy company’s stock after buying an additional 8,121 shares during the period. Bank of New York Mellon Corp owned 0.24% of FuelCell Energy worth $238,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in FuelCell Energy during the fourth quarter worth approximately $30,000. Squarepoint Ops LLC acquired a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $99,000. ExodusPoint Capital Management LP acquired a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $112,000. GAMMA Investing LLC increased its holdings in shares of FuelCell Energy by 451.5% in the first quarter. GAMMA Investing LLC now owns 12,398 shares of the energy company’s stock valued at $57,000 after purchasing an additional 10,150 shares during the period. Finally, Aristides Capital LLC acquired a new position in shares of FuelCell Energy in the fourth quarter valued at approximately $170,000. Institutional investors and hedge funds own 42.78% of the company’s stock.

FuelCell Energy Stock Down 2.3%

FuelCell Energy stock opened at $4.66 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 5.62 and a quick ratio of 3.82. FuelCell Energy, Inc. has a 1-year low of $3.58 and a 1-year high of $16.09. The company has a market cap of $106.20 million, a PE ratio of -0.62 and a beta of 4.15. The stock’s 50 day moving average price is $5.59 and its 200 day moving average price is $5.60.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings results on Friday, June 6th. The energy company reported ($1.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.51) by ($0.28). FuelCell Energy had a negative net margin of 108.52% and a negative return on equity of 21.16%. The business had revenue of $37.41 million during the quarter, compared to analysts’ expectations of $32.42 million. During the same quarter last year, the firm earned ($2.10) earnings per share. On average, sell-side analysts predict that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their target price on FuelCell Energy from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.86.

About FuelCell Energy

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.