Goldman Sachs Group Inc. Sells 37,636 Shares of FuelCell Energy, Inc. $FCEL

Goldman Sachs Group Inc. lessened its stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 21.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,118 shares of the energy company’s stock after selling 37,636 shares during the period. Goldman Sachs Group Inc. owned 0.60% of FuelCell Energy worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in shares of FuelCell Energy by 21.1% during the 1st quarter. Rhumbline Advisers now owns 32,012 shares of the energy company’s stock valued at $147,000 after purchasing an additional 5,585 shares during the last quarter. Nuveen LLC bought a new position in shares of FuelCell Energy during the 1st quarter valued at about $218,000. Banque Cantonale Vaudoise bought a new position in shares of FuelCell Energy during the 1st quarter valued at about $26,000. Federated Hermes Inc. boosted its holdings in shares of FuelCell Energy by 254.0% during the 1st quarter. Federated Hermes Inc. now owns 531,615 shares of the energy company’s stock valued at $2,440,000 after purchasing an additional 381,450 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of FuelCell Energy by 167.6% during the 1st quarter. Penserra Capital Management LLC now owns 195,802 shares of the energy company’s stock valued at $898,000 after purchasing an additional 122,638 shares during the last quarter. Institutional investors own 42.78% of the company’s stock.

FuelCell Energy Stock Down 4.5%

Shares of NASDAQ FCEL opened at $8.67 on Thursday. The firm’s 50-day moving average price is $5.24 and its 200-day moving average price is $5.10. The company has a current ratio of 5.37, a quick ratio of 3.85 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $279.95 million, a price-to-earnings ratio of -0.94 and a beta of 4.13. FuelCell Energy, Inc. has a 12-month low of $3.58 and a 12-month high of $13.98.

FuelCell Energy (NASDAQ:FCEL) last posted its quarterly earnings data on Tuesday, September 9th. The energy company reported ($3.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.59) by ($2.19). FuelCell Energy had a negative return on equity of 20.53% and a negative net margin of 130.81%.The firm had revenue of $46.74 million during the quarter, compared to analysts’ expectations of $48.30 million. During the same period last year, the company earned ($1.94) earnings per share. On average, equities research analysts anticipate that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on FCEL. Canaccord Genuity Group reissued a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a report on Monday, September 15th. B. Riley decreased their target price on shares of FuelCell Energy from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, June 13th. Finally, UBS Group upped their target price on shares of FuelCell Energy from $4.50 to $7.25 and gave the company a “neutral” rating in a research report on Wednesday, September 17th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $8.78.

FuelCell Energy Company 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.