Zurcher Kantonalbank Zurich Cantonalbank grew its stake in FuelCell Energy, Inc. (NASDAQ:FCEL – Get Rating) by 9.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 591,531 shares of the energy company’s stock after acquiring an additional 49,759 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.15% of FuelCell Energy worth $2,017,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FCEL. Barclays PLC grew its holdings in shares of FuelCell Energy by 352.6% during the 3rd quarter. Barclays PLC now owns 2,538,426 shares of the energy company’s stock worth $8,656,000 after purchasing an additional 1,977,523 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in FuelCell Energy by 65.4% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 268,871 shares of the energy company’s stock valued at $1,008,000 after acquiring an additional 106,344 shares during the period. Great West Life Assurance Co. Can purchased a new position in FuelCell Energy during the 3rd quarter valued at about $56,000. Walker Asset Management LLC purchased a new position in FuelCell Energy during the 2nd quarter valued at about $52,000. Finally, Csenge Advisory Group purchased a new position in FuelCell Energy during the 3rd quarter valued at about $70,000. 42.83% of the stock is owned by institutional investors and hedge funds.
FuelCell Energy Stock Performance
Shares of FCEL opened at $3.49 on Wednesday. The stock has a 50-day simple moving average of $3.27 and a 200-day simple moving average of $3.54. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.70 and a current ratio of 6.76. The stock has a market capitalization of $1.42 billion, a PE ratio of -9.18 and a beta of 3.70. FuelCell Energy, Inc. has a 1 year low of $2.47 and a 1 year high of $7.33.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on FuelCell Energy in a report on Wednesday, October 19th. They set a “hold” rating and a $3.00 target price for the company. UBS Group assumed coverage on FuelCell Energy in a report on Tuesday, December 13th. They set a “neutral” rating and a $3.85 target price for the company. Finally, B. Riley lowered their target price on FuelCell Energy from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, December 21st. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.46.
About FuelCell Energy
FuelCell Energy, Inc engages in the development, design, production, construction and servicing of high temperature fuel cells for clean electric power generation. It develops turn-key distributed power generation solutions and provides comprehensive services for the life of the power plant. The firm’s fuel cell solution is an alternative to traditional combustion-based power generation and is complementary to an energy mix consisting of intermittent sources of energy, such as solar and wind turbines.
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