Rhumbline Advisers Sells 800,514 Shares of FuelCell Energy, Inc. (NASDAQ:FCEL)

Rhumbline Advisers cut its holdings in FuelCell Energy, Inc. (NASDAQ:FCEL) by 96.8% in the fourth quarter, HoldingsChannel reports. The firm owned 26,427 shares of the energy company’s stock after selling 800,514 shares during the period. Rhumbline Advisers’ holdings in FuelCell Energy were worth $239,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Penserra Capital Management LLC increased its holdings in shares of FuelCell Energy by 139.6% during the 3rd quarter. Penserra Capital Management LLC now owns 3,716,131 shares of the energy company’s stock valued at $1,412,000 after acquiring an additional 2,165,316 shares during the last quarter. Geode Capital Management LLC lifted 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 worth $4,567,000 after purchasing an additional 1,466,442 shares during the last quarter. Point72 DIFC Ltd bought a new stake in FuelCell Energy during the third quarter worth approximately $90,000. Charles Schwab Investment Management Inc. grew its holdings in 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 purchasing an additional 216,539 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position 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 purchasing an additional 143,786 shares during the period. 42.78% of the stock is owned by institutional investors and hedge funds.

FuelCell Energy Stock Up 7.0 %

Shares of FCEL opened at $6.59 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.48 and a current ratio of 6.01. The company has a 50-day simple moving average of $8.30 and a 200-day simple moving average of $9.95. FuelCell Energy, Inc. has a 52 week low of $5.12 and a 52 week high of $37.20. The firm has a market capitalization of $139.34 million, a P/E ratio of -0.83 and a beta of 3.71.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FCEL shares. Canaccord Genuity Group reaffirmed a “hold” rating and set a $12.00 price objective on shares of FuelCell Energy in a report on Friday, December 20th. TD Cowen upped their price target on shares of FuelCell Energy from $2.00 to $12.00 and gave the company a “hold” rating in a report on Friday, December 20th. StockNews.com assumed coverage on FuelCell Energy in a research report on Tuesday, November 12th. They issued a “sell” rating on the stock. Jefferies Financial Group decreased their target price on FuelCell Energy from $15.00 to $8.40 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company dropped their price target on FuelCell Energy from $30.00 to $5.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $10.23.

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.