Bank of New York Mellon Corp Lowers Stock Position in FuelCell Energy, Inc. (NASDAQ:FCEL)

Bank of New York Mellon Corp cut its stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 96.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 43,643 shares of the energy company’s stock after selling 1,326,599 shares during the period. Bank of New York Mellon Corp’s holdings in FuelCell Energy were worth $395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in FuelCell Energy by 13.9% in the 3rd quarter. Geode Capital Management LLC now owns 12,014,243 shares of the energy company’s stock valued at $4,567,000 after purchasing an additional 1,466,442 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 worth $1,512,000 after buying an additional 216,539 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of FuelCell Energy by 4.2% in the third quarter. Rockefeller Capital Management L.P. now owns 548,404 shares of the energy company’s stock valued at $208,000 after buying an additional 22,153 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of FuelCell Energy by 35.8% in the third quarter. JPMorgan Chase & Co. now owns 545,894 shares of the energy company’s stock valued at $207,000 after buying an additional 143,786 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of FuelCell Energy in the 3rd quarter valued at $90,000. 42.78% of the stock is owned by hedge funds and other institutional investors.

FuelCell Energy Trading Down 4.5 %

NASDAQ FCEL opened at $4.70 on Friday. FuelCell Energy, Inc. has a 52 week low of $4.65 and a 52 week high of $37.20. The firm has a 50 day moving average of $6.82 and a two-hundred day moving average of $9.26. The company has a quick ratio of 4.48, a current ratio of 6.01 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $99.38 million, a PE ratio of -0.59 and a beta of 3.71.

FuelCell Energy (NASDAQ:FCEL) last issued its earnings results on Tuesday, March 11th. The energy company reported ($1.42) EPS for the quarter, topping analysts’ consensus estimates of ($1.52) by $0.10. The firm had revenue of $19.00 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted ($1.25) earnings per share. As a group, research analysts expect that FuelCell Energy, Inc. will post -6.11 EPS for the current fiscal year.

Analysts Set New Price Targets

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